LandlordsNY Briefing for November 8th

Following Tuesday's elections, both houses of the New York state Legislature are now firmly in Democratic control. This will likely have a major impact on housing laws in the state, as the Democrats are expected to strengthen tenant protections already in place. They are also expected to introduce new legislation that could drastically reshape the major capital improvement program and eliminate vacancy increases altogether.

Crain's New York has more.

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Google is said to be in talks to move into a 1.3-million-square-foot space in a complex currently under development at the St. John's Terminal building on the West Side of Manhattan. The move would double the company's workforce in the city, which is currently around 7,000. It would significantly increase New York's status as a major tech hub.

The New York Times has more.

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In a Landlords New York Minute – A (Very) Brief Look Around the World

North Korea has called off talks over its nuclear program with Secretary of State Mike Pompeo, China is continuing to increase the amount it exports despite heavy tariffs imposed by the United States, Venezuela's 1-year inflation rate hit 833,000% in October, there were more than 1 million more job openings in the U.S. than there were unemployed people in September, and President Donald Trump has forced Attorney General Jeff Sessions to resign. Matthew Whitaker, Mr. Sessions' chief of staff, will serve as acting attorney general, provided the move is legal; Supreme Court Justice Ruth Bader Ginsburg has been hospitalized after falling in her office and breaking three ribs; the Federal Reserve is expected to keep interest rates steady following a two-day policy meeting that ends today; and a gunman opened fire at a country and western dance hall in suburban Los Angeles, killing at least 12 people. Tuesday's midterm election saw the highest level of voter participation in half a century, some pundits believe that Democrats and Republicans may be able to work on infrastructure projects together as a way to avoid congressional gridlock on account of the split Legislature, secondary cities are becoming more popular due to their lower costs of living and comparable job markets with primary cities, economists believe that Amazon's decision to move its HQ2 to a “superstar city” like either Washington or New York was essentially predetermined because of the way an economy based on tech operates, should Amazon decide to build a portion of their second headquarters in Long Island City—which is rumored to be their the tech giant's preferred site in New York City—it is likely that even more tech companies will gravitate to the area, and all of this will mean that taking the 7 train will be even more of a nightmare than it already is. Residents of Brooklyn Heights are paying a very good public relations firm to make the case that the absolutely necessary repair of the Brooklyn-Queens Expressway should not disturb or close the Brooklyn Promenade, someone should adopt a subway station, the New York City Council may be expanding an existing pilot program in East New York that encourages landlords to convert their basements into legal apartments, and former New York attorney general Eric Schneiderman will not face criminal charges stemming from the allegations of sexual abuse by four women.

A recently discovered species of extinct ape (Simiolus minutus) was the smallest primate in history and weighed about as much as a house cat, King Kong is coming to Broadway, a donkey and an emu have fallen in love, loneliness is bad for the brain, holochain hopes to replace blockchain, Colorado has voted to abolish slavery, and Buffalo evidently has a specific style of pizza.

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