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| Formation | 1896 |
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| Type | Trade association |
| Location |
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| Fields | Real estate |
Official language | English |
| Website | rebny |
The Real Estate Board of New York (REBNY) is a trade association for the real estate industry in New York City. Formed in 1896, it has been dubbed "the leading trade group advocating on policy changes in the real estate industry". Its current president is James Whelan. [1]
The board was formed in 1896 to "facilitate transactions in real estate, such as buying, selling, leasing, mortgaging, and insuring of property and other business pertaining thereto. Among the current board members are the president John Banks, [2] Fredrik Eklund and Daniel Brodsky. [3]
Today, REBNY works to promote industry-backed policies. Its members frequently speak before government bodies to, among other things, expand New York's economy, encourage the development and renovation of commercial and residential real[ clarification needed ] property, increase the city's appeal to a specific class of investors and residents, and facilitate property management for this same class. To help members hone their professional skills, the group conducts education programs, including state-certified required courses for licensing, continuing education courses, and free seminars. The group also performs research on residential and commercial conditions within the city.
In early 2015, the association represented the landlords of unsafe buildings in Councilmember Margaret Chin's downtown district and pushed back when approached about having to pay to move tenants while the buildings were being fixed. REBNY president Steve Spinola said, "This legislation would better protect tenants by strengthening the existing (Department of Housing Preservation and Development) program to relocate tenants instead of cutting into funds used for building repairs and maintenance." [4]
The group also backs political candidates deemed friendly to real estate companies, "Few industries gave more — and frequently in large amounts — than real estate." [5] Thanks to the enactment of the 1994 New York state Limited liability company (LLC) law millions of dollars are donated to Albany and local politicians "from luxury residential buildings, office towers and parking garages controlled by some of New York City’s biggest tycoons." All owned by "LLCs, a structure shielded from New York’s tight restrictions on corporate campaign donations." Real estate developers "can give virtually unlimited sums each campaign season," privately and through the REBNY. "By influencing state elections, developers have undermined rent stabilization and preserved a key tax break that saves them far more money than they spend on political campaigns. The value of that subsidy, which is known as 421-a, has soared from $73 million in 1986 to an estimated $1.4 billion this year [2016]. In return for the tax benefit, owners are supposed to limit rent increases and set aside a portion of units in high-demand neighborhoods for below-market rents — though they often don’t fulfill their commitments." [6] REBNY President James Whelan in January 2022 "indicated support for Gov. Kathy Hochul’s proposed Affordable Neighborhoods for New Yorkers program, a rebrand of the expiring 421-a tax break." [1]
"REBNY members gave a tenth of all N.Y. campaign money," in 2015 "which represents only some of the political spending by New York’s real estate industry." Michael McKee, treasurer of Tenants PAC Archived 2022-03-22 at the Wayback Machine , said he "was concerned that state leaders would be more likely to heed REBNY’s positions than his own as a result of the contribution levels. (Tenants PAC and McKee contributed $61,565 to 2014 candidates.) “This is legalized bribery,” he said. “They’re quite used to buying what they want and getting it, and the legislature—both houses—has proven to be quite willing to give it to them.” [7] Affordable housing and rent controlled apartments are disappearing as landlords exploit a "broken system, pushing out rent-regulated tenants and catapulting apartments into the free market." [8]
For the 2013 political races in Brooklyn, REBNY created the Jobs for New York PAC, a pro-development political action committee to support controversial Brooklyn councilwoman Laurie Cumbo and other candidates. [9] [10] [11] [12] The PAC gave Cumbo at least $80,000 through August 2013, an unpopular move with residents in a rapidly gentrifying area. [13] (In an AARP-sponsored discussion a week later, Cumbo claimed that she received no money from it. [14] )
REBNY also started "Putting New Yorkers to Work, Inc.", a lobbying group that funds ads by groups like Affordable Housing and Local Jobs Now to counter union groups pushing for wage requirements for the building of new affordable housing. [15]
Subsidized housing is government sponsored economic assistance aimed towards alleviating housing costs and expenses for impoverished people with low to moderate incomes. In the United States, subsidized housing is often called "affordable housing". Forms of subsidies include direct housing subsidies, non-profit housing, public housing, rent supplements/vouchers, and some forms of co-operative and private sector housing. According to some sources, increasing access to housing may contribute to lower poverty rates.
Rent control in Ontario refers to a system of rent regulation in Ontario, Canada which limits the amount by which the rent paid by tenants for rental accommodation can increase. It applies to any unit that was first occupied for residential purposes before November 15, 2018.
Inez E. Dickens is the Assemblymember for the 70th district of the New York State Assembly. She is a Democrat. The district includes portions of El Barrio, Hamilton Heights, Harlem, and Morningside Heights in Manhattan. She formerly served on the New York City Council from 2006 to 2016, representing the 9th district.
The Mitchell–Lama Housing Program is a non-subsidy governmental housing guarantee in the state of New York. It was sponsored by New York State Senator MacNeil Mitchell and Assemblyman Alfred A. Lama. It was signed into law in 1955 as The Limited-Profit Housing Companies Act.
Penn South, officially known as Mutual Redevelopment Houses and formerly Penn Station South, is a limited-equity housing cooperative development located between Eighth and Ninth Avenues and West 23rd and 29th Streets, in the Chelsea neighborhood of Manhattan in New York City. The complex has 2,820 units in ten 22-story buildings. Penn South is so named because of its location southwest of New York Penn Station.
Knickerbocker Village Limited is a housing development in Manhattan, New York City. It is situated between the Manhattan Bridge and Brooklyn Bridge, in the Two Bridges section of the Lower East Side. Although the location was generally considered to fall in the Lower East Side, it has come to be thought of as part of Chinatown in recent years and the majority of residents are Chinese. It is located a short distance from New York City Hall, Civic Center, and the South Street Seaport. The complex consists of 1,590 apartments in twelve 13-story brick buildings surrounding two courtyards.
Rent regulation in New York is a means of limiting the amount of rent charged on dwellings. Rent control and rent stabilization are two programs used in parts of New York state. In addition to controlling rent, the system also prescribes rights and obligations for tenants and landlords.
Laurie A. Cumbo is an American politician and Commissioner of the New York City Department of Cultural Affairs. A Democrat, she served in the New York City Council for the 35th district from 2014 to 2021, which includes the Brooklyn neighborhoods of Fort Greene, Clinton Hill, and Prospect Heights, portions of Bedford-Stuyvesant, Crown Heights, Downtown Brooklyn, the Brooklyn Navy Yard, and Vinegar Hill. She is the founder and first executive director of the Museum of Contemporary African Diaspora Arts.
Laurence Gluck was an American real estate investor and landlord based in New York who was the founder of a real estate company Stellar Management.
The Crown Heights Tenant Union (CHTU) is a tenants union created in October 2013 to unify old and new tenants against the gentrification of the neighborhood of Crown Heights, Brooklyn, New York City. The CHTU has pushed for local collective bargaining agreements between tenants and landlords to be written into the deeds of buildings that would regulate rent increases and codify repair and renovation standards. They also assist individual tenants, educating them on their rights and how to enforce them, lobby in Albany for better rent laws, and participate in direct action, targeting predatory equity real-estate companies they believe to be involved in illegal evictions and harassment tactics.
The 421-a tax exemption is a property tax exemption in the U.S. state of New York that is given to real-estate developers for building new multifamily residential housing buildings in New York City. As currently written, the program also focuses on promoting affordable housing in the most densely populated areas of New York City. The exemption is granted for any buildings that add multiple new residential units, and typically lasts for 15 to 25 years after the building is completed. Longer exemption periods apply in less densely populated areas of the outer boroughs and upper Manhattan.
Brian A. Benjamin is an American politician and businessman who was the lieutenant governor of New York from September 2021 until his resignation on April 12, 2022. A member of the Democratic Party, he previously represented the 30th district in the New York State Senate from 2017 to 2021.
Jabari Brisport is an American politician, activist, and former public school teacher. He is the state senator for New York's 25th State Senate district in Brooklyn, and the first openly gay person of color to be elected to the New York State Legislature.
Carlina Rivera is an American politician who represents the 2nd district of the New York City Council since 2018. A member of the Democratic Party, her district includes portions of the East Village, Gramercy Park, Kips Bay, Lower East Side, Murray Hill and Rose Hill in Manhattan.
The Metropolitan Council on Housing is a tenant rights organization in New York City founded in 1959. As the oldest and largest tenants' organization in the city," it has focused on issues including rent regulation and affordable public housing.
The Housing Stability and Tenant Protection Act of 2019 (HSTPA) is a New York state statute that introduced major changes to landlord-tenant law.
Marcela Mitaynes is a Peruvian-American politician and tenant organizer. She is a member of the New York State Assembly, representing the 51st district as a Democrat. Mitaynes is a member of the Democratic Socialists of America.
The Bedford Union Armory is a historic National Guard armory building located in the Crown Heights neighborhood of Brooklyn, New York City. It is a brick and stone castle-like structure built in 1903 and opened in 1908 and was used by the U.S. Army for training, equipment storage and even as a horse stable. The current community center opened in October 2021.
Crystal R. Hudson is an American politician from New York City. A Democrat, she represents the 35th district of the New York City Council, which covers parts of central Brooklyn.
Steven Croman is a real estate owner, slumlord, and fraudster in New York City. In 1990, Croman incorporated the management and brokerage firm Croman Real Estate and quickly grew his business, owning 20 buildings by the end of the decade and 140 buildings by 2016, mostly in Manhattan's East Village. 9300 Realty was subsequently rebranded as Centennial Properties NY.
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