RentWire is a pop-up newsletter dedicated to all things rent in New York City. We cover commercial and residential real estate trends, news developments and stories. RentWire operates out of Columbia University’s School of Journalism. We’ll only be around for a couple of months, so tell a friend and join our conversation.
Here’s what we’re talking about:
The vast amount of tax breaks that the Hudson Yards development has received, especially since it seems they are planning to recruit more private businesses in their area.
Overcrowding families, more specifically in the hispanic immigrant population in Jackson Heights. People living in crowded spaces meant for one family, or having to live in basements which are both illegal and dangerous.
The South Asian immigrant communities in Jackson Heights are being taken advantage of by landlords in their affordable housing units; many of the apartments they live in are not up to building codes and/or they have unsafe living conditions.
The Brooklyn DA’s office announced last week that nine contractors were arrested for allegedly bribing NYCHA superintendents and employees “in exchange for micro-purchase contracts.” Contractors gave NYCHA employees up to $1000 to secure small projects.
Manhattan Community District 5’s budget statement for fiscal year 2022 stated three pressing issues for the community: development/recovery, homelessness and quality of life. Eric Adams plans to address the homeless population by transforming abandoned hotels into housing.
The Committee on Small Business held a hearing last week concerning a bill focused on commercial rent stabilization. The tenants feel like renting in New York has become too much of a burden for small business owners. While landlords argue that rent stabilization would hurt them financially, and that the government should find other ways to help small businesses.
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