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A blog for breaking sales and neighborhood real estate news.

July 15, 2015
Commercial Observer
Bob Knakal

In what could not have been a surprise to anyone, last month, the New York Legislature passed the Rent Act of 2015, a rent bill with significant alterations to the law. While this renewal makes tangible changes that strengthen a tenant’s positions, it does not address several critical uncertainties for owners.

The law extends rent regulation until June 15, 2019 and was passed retroactively back to June 15, 2015 as was expected. The principal changes to the Act are...

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