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uticaphoenix.net

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New York affordable housing push creates incredible hope for families

New York affordable housing push creates incredible hope for families. Governor Kathy Hochul unveils massive investments and major regulatory rollbacks to accelerate residential construction across the Empire State. The New York affordable housing push took a massive step forward this week as state officials announced groundbreaking progress on hundreds of...

New York · 06-18
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New York Post

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NY’s pied-à-terre tax could leave entire co-ops on hook for massive bills: ‘Whole building suffers’

New York’s newly enacted pied-à-terre tax could leave entire co-op buildings on the hook for hefty tax bills if a wealthy second-home owner refuses to pay — sparking alarm among real estate brokers and co-op advocates who warn the measure was drafted without accounting for how co-ops actually operate. “It’s not the shareholder that suffers the consequences, it’s the entire building that suffers the consequences,” Jason Haber, co-founder of the American Real Estate Association and a Compass broker, told The Post. The tax spearheaded by Gov. Kathy Hochul and touted by Mayor Zohran Mamdani was signed into law as part of the state budget last month. Gov. Kathy Hochul signed Mayor Zohran Mamdani’s pied-à-terre tax into law as part of the state budget, targeting luxury second homes. Robert Miller for NY Post It targets luxury non-primary residences and is expected to raise hundreds of millions of dollars annually from wealthy second-home owners. But experts say the mechanics of collecting the surcharge could create major headaches for co-op boards, particularly in smaller buildings. Unlike condominiums, co-ops do not have separate tax lots for individual apartments. Instead, the entire building is assessed as a single property, with real estate taxes paid by

New York · 06-16

thedigestonline.com

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The NY-NJ Housing Market Just Made the Biggest Jump of Any Major Metro in the Country

New Jersey buyers (and sellers), take note. The New York-Newark-Jersey City metro just posted the biggest year-over-year ranking improvement of any large housing market in the United States, according to Realtor.com’s May 2026 Hottest Housing Markets report. The metro climbed 53 spots in the national rankings compared to this...

New Jersey · 06-17
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longisland.com

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Attorney General James Files First Lawsuits Under Rent Stabilization Compliance Program

New York Attorney General Letitia James today filed the first lawsuits against two New York City landlords as part of her office’s compliance program focused on enforcing “de facto” rent stabilization in buildings throughout New York City. Following the Emergency Tenant Protection Act of 1974, de facto rent stabilization was created as a judicial doctrine to allow buildings with five or fewer units built before 1974 to become rent stabilized if the building was altered – legally or illegally – to have six or more units. Since its launch in May 2025, the Office of the Attorney General’s (OAG) de facto rent stabilization compliance program has successfully prevented 26 evictions and secured the return of 91 units to rent stabilization.

New York, NY · 06-16
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re-nj.com

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RIPCO: 7 Brew continues expansion with five new leases in New Jersey, New York

Drive-thru coffee chain 7 Brew has signed four new leases in New Jersey and another in New York’s Rockland County, adding to its fast-growing footprint across the Northeast. That’s according to brokers with RIPCO Real Estate, which represents the operator in the region and has helped it secure prominent locations in high-traffic retail corridors. The new sites, which have received municipal approvals, include:

New Jersey · 06-16

hoodline.com

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J-51 Is Back: NYC Co-op Boards Eye Rare Renovation Tax Break

New York's state budget has officially brought back the J-51 tax abatement, handing co-op and condo owners a rare bit of good news as they stare down costly renovation projects. The revamped program increases benefits, widens who can qualify, and gives boards more breathing room to plan. The catch: the money will not just show up on your tax bill. Boards with upcoming façade repairs, boiler upgrades or Local Law 97 work should already be organizing invoices, checking timelines and lining up legal or accounting advice.

New York · 06-13

Realtor.com News & Insights

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Bill Would Raise Capital Gains Exclusion for Seniors Selling Homes

Rep. Nicole Malliotakis' new "Nest Egg Protection Act," H.R. 9064, proposes raising the capital gains tax exclusion for people over 65.

Staten Island, NY · 06-08

therealdeal.com

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The developer bucking New York’s 99-unit trend

New York’s 99-unit building era is in full swing. But one developer appears to be bucking that trend. TF Cornerstone intends to use the 485x tax abatement program to build three large rental projects in Brooklyn, according to city data. That would make the developer the first to be...

Brooklyn, NY · 06-04

therealdeal.com

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Inside Mamdani’s NYC housing blueprint

Mayor Zohran Mamdani spent months campaigning on a promise to freeze rents and aggressively tackle New York’s housing crisis. This week, the administration finally showed what that looks like in practice. The mayor’s 112-page housing blueprint, dubbed “Block by Block,” lays out an ambitious and politically complicated strategy that...

New York, NY · 05-31

wheninyourstate.com

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14 Reasons Why Americans Are Leaving New York in 2026

New York has iconic cities, world-famous culture, unmatched energy, and enough pizza opinions to start family feuds for generations. But in 2026, many Americans are deciding the Empire State simply costs too much, moves too fast, and demands too much stress to stay forever. Between sky-high housing prices, crushing taxes, brutal winters, and nonstop pressure, plenty of New Yorkers are quietly heading for states where life feels a little less financially aggressive.

New York · 05-26

WebProNews

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New York’s Tax on Billionaires’ Empty Luxury Homes: Victory for Mamdani, Questions for the Balance Sheet

New York’s Tax on Billionaires’ Empty Luxury Homes: Victory for Mamdani, Questions for the Balance Sheet. New York state lawmakers have approved a tax on multimillion-dollar second homes in New York City. The measure, backed by Gov. Kathy Hochul and Mayor Zohran Mamdani, targets properties worth more than $5 million owned by people who do not live there full time. It passed as part of the delayed state budget on May 28. And it marks a rare point of alignment between the progressive mayor and the more moderate governor.

New York · 05-29

beckershospitalreview.com

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Retirees trade vacation homes for ‘med-à-terres’ near specialists

A growing share of wealthy retirees who left New York City during the pandemic are purchasing second properties to stay close to their physicians, The Wall Street Journal reported May 28. While a “pied-à-terre” is a second home located near the city for business or leisure, the “med-à-terre” gives affluent...

New York, NY · 05-28

New York Post

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Hochul’s pied-à-terre tax will hurt regular folks, retirees because of property-value fallout: critics

Gov. Kathy Hochul’s proposed pied-à-terre tax on pricey second homes won’t just soak the jet-setting super rich — it also will nail hard-working families and retirees who live in the same buildings, critics charge. Managers at the landmark luxury Manhattan House Condominium at 200 E. 66th St. recently fired off a letter to state Sen. Liz Krueger and other pols griping about the plan — which Democratic Socialist Mayor Zohran Mamdani wholeheartedly backs . Critics warn Gov. Kathy Hochul’s pied-à-terre tax will hit regular families and retirees, not just the super-rich. Lone Pine Press for NY Post The building overseers warned that the planned surtax on second homes worth more than $5 million in the city could impact the property values of every owner who lives in the same co-op and condo building because it makes the sites unattractive for future buyers. That decreases everyone’s property values, the opponents said. “Based on publicly available market data, Manhattan House represents well over $1 billion in residential property value. That value is not held only by absentee investors or speculative buyers. It is held by residents, families, retirees, long-time New Yorkers, and owners who rely on the stability and liquidity of the

New York, NY · 05-24

City Limits

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Mamdani’s Housing Plan To Overhaul How City Responds to Tenants’ Heat Complaints, Other Code Violations

The Mamdani administration will announce a series of reforms Tuesday to improve how the city enforces building violations, part of its broader plan to build and preserve new housing across the five boroughs. Mayor Zohran Mamdani will release his administration’s housing plan Tuesday morning as the city faces an persistent...

New York, NY · 05-26

therealdeal.com

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PolicyPro: Unpacking Mamdani’s housing plan

This story gives you a peek at the content coming to our new platform, TRD Policy Pro. Sign up to get early access here. Good afternoon, let’s get into a special edition of PolicyPro that digs into new initiatives and conflicts emerging out of Mayor Zohran Mamdani’s sweeping housing plan unveiled Tuesday:

New York, NY · 05-26

qns.com

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NY’s 7th District, District 37 candidates outline platforms at Ridgewood Property Owners and Civic Association forum

On Thursday, May 7, the Ridgewood Property Owners and Civic Association held two candidate forums for the 37th Assembly District and New York’s 7th Congressional District at Ridgewood Older Adults Center, located at 59-14 70th Ave. A field of six hopefuls answered questions and presented their positions on property taxes, housing affordability, community safety and other relevant issues.

New York, NY · 05-25

Newsweek

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New York Governor Predicts Fewer Will Pay New Housing Tax

Kathy Hochul's revised NYC pied-à-terre tax will hit fewer homes, targeting luxury second residences.

New York · 05-18

POLITICO

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Hochul’s pro-housing push sees meager pick up in NYC suburbs

The governor is hoping carrots will move the needle on housing growth after failing to get sticks through the state Legislature three years ago.

New York · 05-18

habitatmag.com

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Gov. Hochul Says Fewer Apartments Would Be Hit by Pied-a-Terre Tax

For opponents of a proposed pied-a-terre tax, the sky is not falling quite as drastically as they'd originally feared. Gov. Kathy Hochul projects that roughly 10,000 New York City properties would be subject to her proposed new tax on luxury second homes — down sharply from an initial estimate of about 13,000, Newsweek reports.

New York, NY · 05-19