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5/29/2024: Episode 91 - Challenges Facing Rent Stabilized Buildings featuring Jay Martin and Matt Engel
Manage episode 421022023 series 3261626
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On this podcast, Shimon Shkury, President and Founder of Ariel Property Advisors, discusses the overall financial health of rent stabilized buildings in New York City with Jay Martin, Executive Director of the Community Housing Improvement Program (CHIP), a landlord advocacy group, and Matt Engel, President of Langsam Property Services Corp., an owner/operator, and Chairman of CHIP.
The topics include rising interest rates, post-Covid collections, property taxes, the Housing Stability and Tenant Protection Act (HSTPA) of 2019 and the state’s new housing policy, which tweaked HSTPA by slightly increasing Individual Apartment Improvement caps for rent stabilized apartments. A summary of the state’s new housing policy is available here.
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