Sign up for our Mapping the Future newsletter to receive housing updates—including the latest news, statistics, tools for tenants and homeowners and affordable-rental lotteries—in your inbox weekly. Here are some of the headlines from this week’s update:
From City Limits:
A key sticking point in the debate over a Sunset Park rezoning is the proposed new treatment of land that had been zoned for heavy industrial uses. That’s a concern in other development hubs around the city as well. Read More
Tenants and advocates say NYCHA’s annual review process leads to routine overcharges and drags tenants into years-long disputes. Read More
Affordable homeownership was an ingredient in the prescription that brought New York City back from the dead. Now, some experts say, it is homeownership that needs saving in New York. Read More
From Around the City
Representative Nydia Velazquez is leading a congressional push to devote federal funding to public housing, the Daily News reports. A ‘long-shot’ bill introduced Wednesday would devote $70 billion in federal dollars towards local housing authorities including $30 billion for NYCHA.
“The person I spoke to laughed when I asked about the status of my case.”The state’s Division of Homes and Community Renewal is struggling to keep up with reports of overcharges, The CITY reports. It takes the understaffed and underfunded agency an average of 24 months just to get overcharge cases on rent-regulated apartments assigned to an examiner and another six to nine months after that for a result.
In the three months through September, 93.6% of all purchases were at or below the last asking price. The median price of homes sold in Manhattan was 8 percent lower this year than in 2018, Crain’s reports. Probably has something to do with that glut of luxury condos.