An analysis of New York's top real estate news by TRD's Kathryn Brenzel Gov. Andrew Cuomo (Getty; iStock) Commercial evictions are banned through January. No word on residential evictions.
Gov. Andrew Cuomo on Monday signed an executive order barring commercial evictions through Jan. 31, Georgia Kromrei reports. The ban has been set to expire at the end of this month.
Commercial landlords can still go after tenants for reasons other than non-payment of rent, and evictions initiated before March 17 can also proceed.
The future of residential eviction protections is still up in the air. The Tenant Safe Harbor Act, which protects tenants from eviction if they prove financial hardship related to the pandemic, expires Dec. 31. Under the measure, landlords can still seek money judgments against tenants.
The state legislature has floated the idea of holding a special session this month. According to Newsday, Assembly Speaker Carl Heastie expects the legislature to consider raising income taxes as early as this month, a move the governor said should wait until he proposes the state’s budget next year.
Stephen Ross is preparing for 2021.
Earlier this month, the Hudson Yards developer contributed $1 million to a newly formed independent expenditure committee, dubbed Common Sense NYC, the New York Times reports. Overall, the committee has raised $1.47 million, according to state campaign finance records.
Developer Jack Cayre and Crown Retail have donated $100,000 and $50,000, respectively.
The committee will presumably target the very crowded mayoral race, as well as the 30-plus seats that will become available on the City Council next year. As an independent expenditure, Common Sense NYC can’t coordinate with a candidate or a candidate’s affiliates. The committee could also pay for ads, robocalls and the like to oppose, say, a pied-à-terre tax.
The entity’s treasurer is Jeffrey Leb, founder of boutique government consulting firm Capitol Consulting. Leb formerly was chief of staff to Council member James Gennaro and worked on Council member David Greenfield’s campaign. According to his website, his firm’s specialties include zoning and land use issues. Some mayoral and Council candidates have indicated that they support a major overhaul of the city’s land use review process, in light of recent controversial rezonings.
What we’re thinking about: Would another shutdown in NYC affect construction? Send a note to kathryn@therealdeal.com.
CLOSING TIME Residential: The priciest residential closing recorded Monday was for a condo at 157 West 57th Street in Midtown at $18.4 million. Commercial: The most expensive commercial closing of the day was for an office building at 147 East 26th Street in Kips Bay at $10.6 million. BREAKING GROUND The largest new building filing of the day was for a 22,537-square-foot residential building at 306 Pennsylvania Avenue in East New York. Rona Reodica of the city’s Department of Housing Preservation and Development filed the permit application.
The priciest residential listing to hit the market was for a townhouse at 323 West 87th Street on the Upper West Side at $6 million. Compass has the listing.
A thing we've learned... Construction on the third phase of Phipps Houses’ Rockaway Village, a massive housing complex that will ultimately yield 1,700 new affordable apartments, is slated to start Jan. 4, according to the project’s architect of record, Marvel.
Elsewhere in New York — ICYMI: A Queens critical care nurse became the first person in the U.S. to receive Pfizer’s Covid-19 vaccine, WABC reports. Sandra Lindsay, who heads critical care at Long Island Jewish Medical Center, received the vaccine early Monday.
— A former Cuomo aide accused the governor over the weekend of sexually harassing her for years. In a series of tweets, Lindsey Boylan, who is running for Manhattan borough president, said the governor would repeatedly comment on her appearance. When asked about the accusations during a press conference on Monday, Cuomo said they were “simply not true,” the New York Daily News reports.
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