Items Tagged with 'New York City housing'

ARTICLES

  • New York claims real estate brokers made $21 million through illegal Airbnb rentals

    Sues Metropolitan Property Group for allegedly violating short-term rental laws
    A group of New York City real estate brokers made $21 million through a series of illegal Airbnb short-term rentals in flagrant violation of the city’s short-term rental laws, the city claims in a new lawsuit. According to the city, Metropolitan Property Group, its owners, and others were repeatedly warned to stop violating the city’s short-term rental laws, but chose to continue to do so, earning more than $21 million in illegal revenue from Airbnb.
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  • Judge sides with Airbnb, HomeAway; blocks NYC law requiring sites to disclose user data

    Law will not take effect during court battle
    A federal judge on Thursday sided with Airbnb and HomeAway and blocked a New York City law that requires the short-term rental platforms to disclose a significant amount of user data. The preliminary ruling comes in a lawsuit filed against New York City by Airbnb over a new law that requires short-term rental sites to reveal hosts’ data.
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  • Monday Morning Cup of Coffee: Senate set to vote on Trump’s CFPB nominee

    Plus Amazon HQ2 killing affordable housing? And thoughts on "Monopoly for Millennials"
    Last week, the biggest groups in housing called on the Senate to bring Kathy Kraninger's nomination to run the CFPB to a vote. And it looks like they're about to get their wish. Plus, did Amazon's HQ2 move kill more than 1,000 units of affordable housing? And, Monopoly for Millennials. Yes, it's real. And it's spectacular.
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  • New York developer admits to bilking investors in long-running luxury real estate Ponzi scheme

    Pleads guilty to defrauding investors out of $58 million
    A New York real estate developer admitted in court last week that he ran a luxury real estate Ponzi scheme that defrauded investors out of $58 million over several years. According to court documents, Michael D’Alessio took much of the money for his own benefit, using it to pay off debts and prior investors, and to fund significant gambling and other personal expenses.
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  • New York opens investigation into Trump real estate tax fraud allegations

    State officials respond to bombshell New York Times report
    New York state officials are investigating whether President Donald Trump, his father, and his family committed tax fraud in a series of complex real estate dealings designed to avoid federal tax laws, which supposedly built the president’s fortune, multiple outlets report. The investigation comes in the wake of a sprawling New York Times investigation into the Trump family and how the president made his money.
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  • Hard money lender Delancey Street bringing commercial bridge loans to NYC

    Company uses AI in decision-making process
    Delancey Street, a hard money lender based in New York City, is expanding and will begin offering commercial bridge loans in the city's five boroughs. And the company, which also has a lending presence in Los Angeles, said that it may soon begin offering commercial bridge loans in L.A. as well.
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  • Rentlogic raises $2.4 million in seed funding to grade NYC apartment buildings

    Proptech startup is latest in a string of startups receiving attention from investors
    Rentlogic, a tech platform utilizing an algorithm and public data to grade New York City residential buildings just closed a $2.4 million seed funding round. Funding came from Urban-X, Urban.Us and Edgar Bronfman Jr., and Rentlogic intends to use the funds to expand its operations and its sales team.
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  • New York sniffing out tenant harassment allegations against Kushner Companies

    State investigating allegations that the company harassed and endangered tenants
    New York is launching an investigation in Jared Kushner’s real estate company on allegations that Kushner Companies harassed tenants at a Brooklyn waterfront property. New York decided to intervene after tenants at the Austin Nichols House, a rent-stabilized community, filed a lawsuit against the company for starting major construction on the property that released toxins into the community's air.
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  • New York City proposes sweeping new rules for security deposits

    City comptroller calls for security deposit limit of one month’s rent
    New York City is in the middle of an affordability crisis, and now, the city is proposing sweeping new rules to address one piece of the affordability crunch that often stands in the way of renters finding a quality apartment or moving to a new one – the security deposit. Over the weekend, the city released a new proposal that would put limits on how much landlords can charge renters upfront.
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