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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
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
[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
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
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
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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