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newsletter 13

N.Y.C., facing pandemic fallout, freezes rent for 2 million tenants for a year

Landlords, citing rising costs, had pushed for increases. Tenants had argued for rollbacks because of the coronavirus outbreak’s financial toll.

Source: New York Times

Date: June 17, 2020

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Rent law’s unanswered questions vex landlords, tenants

Questions remain over 421a, overcharge cases and capital improvements.

Source: The Real Deal

Date: June 17, 2020

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[REPORT] Analyzing the impact of lowering the 50% test for 4% tax-exempt bond financed properties

Novogradac conducted an analysis of the private activity bond (PAB) financed by test for low income housing tax credits (LIHTCs). They found that a decrease in the percentage of affordable housing aggregate basis required to be financed by PABs and remain eligible to receive LIHTCs would result in the creation or preservation of as many as as 1.4 million units of additional affordable housing over the next decade.

Source: NCSHA and Novogradac

Date: June 2020

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Rockpoint group raises $5.8B in opportunistic funds

Rockpoint Real Estate Fund VI and Rockpoint Growth and Income Real Estate Fund III completed their final closes, with contributions from investors of $3.8 billion and $2 billion, respectively.

Source: Commercial Property Executive

Date: June 17, 2020

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Banks shaking off lending cobwebs, starting with multifamily

Through March and April, the institutional lending market was frozen. But as New York City enters Phase 2 of its reopening, lending output has increased as the city rolls into the summer.

Source: Bisnow

Date: June 17, 2020

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Black community braces for next threat: Mass evictions

A federal moratorium on evictions — which only applies to the 1 in 4 rental units that are backed by the government — expires in a matter of weeks.

Source: Politico

Date: June 12, 2020

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