NYAA is a trade organization fighting for better housing policy (vouchers, tax reform, smart regulation) for renters and providers.
New York, NY
Joined November 2018
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RGB Chooses Politics over People in Preliminary Vote: open.substack.com/pub/housin…
Housing New York retweeted
Join us next week for a timely conversation on Tuesday, May 19 at 6:00 PM for the next ABNY Young Professionals’ What’s on Tap? featuring Kenny Burgos (@KennyBurgosNY), CEO of the New York Apartment Association (@housingny).
RSVP here: events.abny.org/WhatsonTapwi…
“This threat of a rent freeze nearly guarantees our owners and tenants will live in declining conditions for years to come.” — @KennyBurgosNY
RGB Chooses Politics over People in Preliminary Vote: open.substack.com/pub/housin…
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“An owner’s ability to pay for the costs of the building you’re living in should matter to every tenant. Rent isn’t going into the pockets of rent-stabilized owners, it’s going into keeping the buildings standing.” — @KennyBurgosNY
RGB Chooses Politics over People in Preliminary Vote: open.substack.com/pub/housin…
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“Politics has pitted the two groups against each other as if they’re not all New Yorkers who are investing in their communities and seeking the same thing: the means to live.” — @KennyBurgosNY
RGB Chooses Politics over People in Preliminary Vote: open.substack.com/pub/housin…
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“This range is an example of politics over people. The final vote impacts hundreds of thousands of tenants and owners.” — @KennyBurgosNY
RGB Chooses Politics over People in Preliminary Vote: open.substack.com/pub/housin…
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Data published by the board in April found that in order for an owner to cover operating costsof a building, an increase of 4.5% on one year leases and an increase of 8.5% percent on two-year leases is needed to merely cover operating costs.
RGB Chooses Politics over People in Preliminary Vote: open.substack.com/pub/housin…
There's a new version of this post
Housing New York retweeted
Don’t believe us when we say rent stabilized housing is in trouble?
How about one of the largest affordable housing lenders in the city?
They testified that majority rent stabilized buildings, the ones that make up nearly 400,000 units of housing are in trouble financially.
That’s housing for a million people. Or the entire population of the city of Austin, Texas.
“Today, tens of thousands of those New York apartments sit vacant … because restoring them costs more than the rent regulators allow landlords to recover.“
"If the city of Los Angeles set out to intentionally destabilize its own housing supply, it could hardly have designed a more effective wrecking ball than its current regulatory regime." latimes.com/opinion/story/20…
Housing New York retweeted
There are two different housing markets in NYC. Nearly 60% of apartments in NYC are not free market. When you hear of $5,000 per month that isn’t the apartments that will get a rent freeze and in fact those apartments will likely see rent increases to pay for the rent freeze.
Housing New York retweeted
.@NYCMayor & I don’t disagree on everything.
In fact, we both agree NYC’s property tax system is broken and terrible for renters.
Here’s how he can fix it and doesn’t even need the State to do anything.
Housing New York retweeted
CPC just testified in front of the RGB that the distress levels in the portfolio they took over from the Signature collapse that was backed by comptroller Brad Lander, have increased from 28% to 54% since 2024.
Housing New York retweeted
I was in Washington DC last month — HUD and Fannie Mae are aware of the distress in rent stabilized housing.
This issue will only get worse.
The Mamdani administration is preparing to take another shot at steering a rent-stabilized portfolio.
therealdeal.com/new-york/202…
Housing New York retweeted
The alarm signals have been blaring for a while in rent stabilized housing.
Mayor Mamdani’s own lawyers said the Pinnacle portfolio was an “unsustainable business due to very low averaging rents”
Those average rents were $1300, the same for nearly 300,000 other apartments in rent stabilization.
Pushing back on a rent freeze doesn’t mean the most vulnerable NYers have to pay more though. There are programs and vouchers to help those who can’t afford added expenses. The city can meaningfully reduce the cost of housing, instead of threatening property tax increases.
But a freeze — on top of the 2019 rent law damage, hyperinflation from COVID, a decade of RGB adjustments under inflation? It’ll send more buildings past the breaking point. How is that good for renters?
This isn’t about increased profit, profit all but died in 2019. A rent adjustment above 0 is just to keep the lights on. Cover inflation. Cover increased fuel prices from this winter. Cover the scaffolding costs NYC forces on owners.
I want housing to work in this city, but ideology keeps getting in the way of math.
Mayor Zohran Mamdani has continuously called for a rent freeze. But Kenny Burgos, the CEO of the New York Apartment Association, told NY1's Errol Louis that a rent freeze could create other problems for tenants - like subjecting them to living in a bankrupted building.
Check out the full interview with Kenny Burgos: specne.ws/JzESU1
Housing New York retweeted
9 people set the rent for over 2 million New Yorkers.
Let’s take a look at how that process works (or at least how it’s supposed to)
Housing New York retweeted
ConEdison bills are already expensive and NYC is about to make them even more expensive.
(And your rent too)
Housing New York retweeted
NYC multifamily liability insurance premiums up 150% since 2019. 1 in 5 affordable housing developers say they can’t complete projects because of it.
Albany spent years laser-focused on capping rents. Nobody noticed liability insurance premiums exploded outpacing utilities and maintenance. This a cost renters never feel in quality but eats a huge portion of their rent. This is the housing crisis inside the housing crisis.
Housing New York retweeted
There are 3 different housing vouchers in NYC.
I’ll explain how these vouchers prevent evictions, homelessness AND save the city money.
Let’s go through Section 8, CityFHEPS, and HAVP. I’ll also tell you how you can help bring more voucher funding to New York. 💰
Housing New York retweeted
$1.75M to build 1 apartment.
The City’s Unlocking Doors program expected rent stabilized owners to fully renovate a decades old apartment for $50k
(And then maintain rents below operating cost)
Mamdani is asking Trump for $21 billion in federal grants for the Sunnyside Yards housing development they discussed in their White House meeting today, City Hall finally confirms.
politico.com/news/2026/02/26…
