With the full legislature and governor facing re-election in 2026, HGAR and NYSAR are already preparing for what could be a watershed year for housing policy.
The NYC Rent Guidelines Board voted to approve rent increases of 3% for one-year leases and 4.5% for two-year leases on rent-stabilized apartments.
NAR successfully secured its top five priorities in the final package.
Located at 23 Mulberry St. in the Hollow neighborhood of South Yonkers, the $48 million, four-story building has 60 energy-efficient, affordable apartments for seniors.
“Today marks a significant milestone on the path to ensuring the success of our nation’s most vital infrastructure project,” said New Jersey Gov. Phil Murphy.
The diminishing property values have restricted property owners' access to loans for essential upkeep, renovations, and maintenance, leading to a rapid deterioration of rent-stabilized buildings in the coming years.
The board expects to make decisions by Dec. 1, 2025, followed by commission licensure by Dec. 31, 2025.
The Pending Home Sales Index—a forward-looking indicator of home sales based on contract signings—decreased to 70.8 in May. Year-over-year, pending transactions were down 6.6%.
The Department of Financial Services sent a “Circular Letter” on Monday to all insurers advising them of the prohibitions.
Downstate Correctional Facility was a maximum-security prison until its closure in 2022.
Only Westchester saw a slight increase in closed sales for single-family homes, with a 4.6% gain.
Total existing-home sales—completed transactions that include single-family homes, townhomes, condominiums and co-ops—retreated 0.7% from April.
Receive original business news about real estate and the REALTORS® who serve the lower Hudson Valley, delivered straight to your inbox. No credit card required.
