David Neil

Albany Makes History with Good Cause Eviction Law The Albany Common Council adopted the Good Cause Eviction law, setting a precedent as the first city outside NYC to implement this measure. This landmark decision limits rent increases and sets clear criteria for evictions, balancing tenant protections with incentives for property improvements. As someone who has invested in Albany real estate since the early 1990s, I've seen the landscape evolve. This new law marks a pivotal moment in our journey, reflecting decades of growing challenges and regulatory changes. Key milestones: 1993-2000: Initial investments and growth. 2011-2022: Rising rents and the need for stronger tenant protections. 2021: Initial passage, halted by a court ruling. April 2023: State authorization. June 2024: Official adoption by the Albany Common Council. The future will require balancing tenant rights and landlord responsibilities to improve our community’s quality of life. #RealEstate #Albany #GoodCauseEviction #TenantRights #LandlordRights #HamelRealEstate Eddie S. Peter Melito Beth Silverman Bob Eberle Living in Albany, NY Isaac Weinberger

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We pride ourselves on our deep-rooted knowledge of the New Hampshire real estate market. Our finely-tuned process for finding and managing rental properties allows you to leverage our expertise without the need to navigate the complexities yourself. By partnering with us, you can bypass the common pitfalls and challenges of real estate investing. We handle every detail, so you can enjoy the benefits without the headaches. Contact us to get started! Follow Kyrios Capital LLC #RealEstateInvesting #TakeAction #MultifamilyInvesting #FinancialDecisions #MoneyTips #FinancialPlanning #investment #RealEstateInvesting #realestatenewhampshire #realestateinvestmentn #newyorkrealestate #entrepreneur #selfemployed #businessowner #smallbusiness #smallbusinessowner #realestateadvice #investmentproperty #propertyportfolio #investmentproperty #realestate #investment #realestateinvestor #realestate #investmentstrategy #longtermrentalproperties

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If 421a did not produce sufficient housing for NYC, why would an inferior program produce MORE housing? It won’t. Sure, the affordable units will be more affordable, but less units will get built. 485x is a mediocre program that will produce mediocre results.

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Good move by Governor Hochul to take a pause on the congestion pricing tolls. The economic pain facing middle class and working class families and residents is real and an additional tax of $15 is too much at this time. The backlash to this proposal is not a surprise as very little outreach was done on Long Island and to date we know almost no one out here who supports the plan as proposed. A recent poll showed over 70% of Long Islanders opposed. Members of the LI Main Street Alliance have been vocal about the economic impact of the tolling to many business deliveries in and out of Manhattan. They would have had to pass the costs on to their customers which they didn't want to do. Alternatively our message was to use the tolling to our advantage and simply stay on Long Island to avoid Manhattan and spend time in local downtowns instead. When you leave the public out of the planning to simply push through your agenda that is a bad precedent and leads to unintended consequences. In this case the lost opportunity was a thoughtful tolling compromise that could have been advanced had there been real dialogue and outreach throughout this process. Elites need to hear from and adapt to local communities before they make decisions impacting the broader public. https://lnkd.in/emcNuY2x

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The New Trend In Affordable Residential Home Construction? Due to affordability issues created by higher mortgage rates for homebuyers and higher input costs for builders, are these new home models from Lennar the trend for the future? Judging by the new construction seen going up in areas of Long Island the answer would appear to be no. Have you seen these types of homes being built near you? _____________________________________________ Large Or Small, if You Are Buying A Home In New York State, You MUST Protect It…That's Where Title Insurance And Due Diligence Comes In! Do Some Research Concerning The Title Insurance Provider That Will Be Used For Your Real Estate Purchase In New York! Watch ‘If You’re A Homebuyer In New York You MUST Protect Your Investment…That's Where Title Insurance And Due Diligence Comes In!' here https://lnkd.in/eME5S_3u. And remember that it’s your RIGHT to choose the title company you would like to use! Hallmark Abstract Service...You Buy Real Estate, We Protect It! #construction #affordablehomes #inflation #mortgagerates #homebuyers Ori Klein David Grove

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With the passing of the FY Budget passed in Albany earlier today, the Real Estate Development landscape has shifted dramatically. These might be the most developer-friendly policies passed in New York State in the last 20 years. Improvement on the expired 421A, Office to residential conversion incentives, improvements to the IAI formula, lifted caps on FAR 12 (specifically catered for City of Yes passing). Aspects of Good Cause also passed, but in a drastically watered down form. This is an exciting time to be in real estate in New York City. 🚀🚀🚀

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New York City is set to dramatically reshape a significant portion of its waterfront in Brooklyn following a major real estate transaction announced by Mayor Eric Adams. The city will take control of a 122-acre site from the Port Authority of New York and New Jersey in a landmark no-cash deal, which includes the Brooklyn Marine Terminal. The transformation plans involve creating a modern port facility that will foster the city’s maritime freight industry and reduce dependency on truck transportation. Key features of the redevelopment will include micro-distribution systems like cargo bikes and electric vans. In addition to boosting its maritime capabilities, the site will be developed into a mixed-use community offering housing, retail, and abundant green spaces. This initiative is part of a broader vision to develop a vibrant neighborhood along the shoreline, showcasing New York City's potential and commitment to innovative urban development. The city will invest $80 million initially for infrastructural enhancements, including the repair of three piers. New York State will also contribute, with Gov. Kathy Hochul announcing a $15 million investment. The transaction also involves the city transferring ownership of its portion of the Howland Hook Marine Terminal in Staten Island to the Port Authority, which will streamline operations and management under a single entity. The redevelopment project will commence with a community engagement and master planning process, aimed at crafting a comprehensive vision for the site over the next six to nine months. Following this, the city plans to issue requests for proposals to find operators for the new facilities, ensuring the waterfront remains a working hub integrated with community-oriented developments. #NYCWaterfront #BrooklynDevelopment #UrbanInnovation #GreenCity #SustainableNYC #MaritimeFreight #CommunityEngagement #RealEstateNews #MayorEricAdams #NYCReimagined https://lnkd.in/eURA_5dq

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No, Boston is not heading into an Urban Doom Loop! Yes the risk is there as Jon Keller eloquently outlines in his article in Boston Magazine “Is Boston’s Economy Doomed“, which I highly recommend reading for anyone in Boston or in urban real estate. It’s well written and seems out of a Tom Wolfe novel with the vivid descriptions of the characters and conflicting business issues facing the city that could cause Boston’s unraveling as a global economic powerhouse. Office vacancy is up significantly (~20% today). And values of older office buildings have cratered (down 30%-75%) and lab buildings are suffering as well. Add vacant storefronts and lackluster retail traffic as further ills. Falling values then reduce tax revenue for the city, forcing reduced service levels (police, education, business incentives, etc…) that then causes a further increase in vacancy and drop in values and tax revenues… resulting in a downward spiral. And to make matters worse at peak the rules changed to increase the percentage of affordable units in new developments which are rendering many developments uneconomical reducing construction (and employment and fee income from it).  And the Mayor is now proposing to increase the tax rate on commercial buildings even further which would drive more investors and occupiers out of the city… Sounds like a recipe for disaster!  However thanks to Jon and many other journalists highlighting the issues in the media and strong leadership from the Boston business protagonists mentioned in the article (incl. Bob Rivers, Thomas O'Brien, David Greaney, James (Jim) T. Brett, Greg Vasil, Marty Walz, Ed Flynn, and others) that I see solutions on the horizon. Boston as a city is doing fairly well. And while unpleasant, it would be very feasible to cut from the budget without impacting critical services (police, fire, education).  And Boston also has ‘sticky’ downtown economic drivers: education, medicine, and government that aren’t going anywhere. Part of the long-term solution is converting older office buildings to residential the other portion just become cheaper office. My gut says people will come back, and new businesses launch in lower cost space.  And while 65% of the city voted for a millionaires tax that was at a rosier economic time for the city and a policy that generally had the backing of the local media. Today with the economy and employment at risk I am guessing that the city is far more pro-business and that falling permit numbers will spur changes in the zoning process. And I bet Stijn, credited with the "Doom Loop" term, having recently visited Boston would agree, a city with highly engaged civic and business leaders and a press that is actively portraying the downsides of inaction and anti-business policies to the public is far more likely to survive and thrive. As always, these are my personal musings, not investment advice. Yair Chris Demetrios Dave JAKE John #Boston #BostonRealEstate

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🗽 Since 421-a expired in June 2022, New York City developers have been awaiting a replacement program. That time has come. The Fiscal Year 2025 New York State budget introduces two key programs: 1️. Affordable Neighborhoods for New Yorkers Program (ANNY), or 485-x. 2️. Affordable Housing from Commercial Conversions Program (AHCC). These initiatives are a crucial part of Albany’s plan to tackle NYC's housing crisis. ⤵️ #NYC #HousingCrisis

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NEW ROOF IN NYC? Effective Nov 15, 2019, Local Law 92 of 2019 and Local Law 94 of 2019 required all new buildings and alterations of existing buildings where the entire existing roof deck or roof assembly is being replaced to have a sustainable roofing zone covering 100% of the roof. The roof must include a solar photovoltaic system generating at least 4kW, a green roof system, or a combination of the two. Vertical extensions or horizontal enlargements must also comply with these requirements. AND the Federal Inflation Reduction Act of 2022 (IRA) provides tax credits for qualifying renewable energy systems, including solar projects. The project must be online after Dec 31, 2022 and the construction must begin before Jan 1, 2025. These solar PV systems and green roofs help owners comply with Local Law 97 and will probably enable the owner to use the IRA Fed Tax Credits. It looks obvious that owners who install rooftop solar will be eligible for the IRA’s Renewable Energy Tax Credits. Roy S. Fenichel, Esq. "Title is Vital"(R)IFMA NYCCoreNet Global New York City ChapterInstitutional Investors Group on Climate Change (IIGCC)

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Massachusetts: Wage Wisdom for Rent #massachusetts #massachusettshomes #massachusettshousing #massachusettsrealestate #massachusettsinvesting #massachusettsrealtor #massachusettsrealestateagent #realestate #realtor #realestateagen

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In The New York Commercial Real Estate World, 421-a = 485-x! This 421-a replacement was fiercely fought over for a long time, and debate will continue over whether this new tax break for multifamily developers will have the intended results. Those results? More housing supply with current supply at 50-year lows! Interest rates will play a major part in any deluge of new projects, but the passing of 485-x is a start. Depending on the deal structure, developers will get tax breaks spread over 40 years in exchange for some of the following... From the article at Gothamist 'NY finally has a housing deal. Will it work?', written by David F. Brand and Jon Campbell... '...The latest iteration, now known as 485-x, will generally require participating developers to make a quarter of the apartments in their projects affordable to individuals with average earnings of no more than $80,000 a year or families of three earning around $112,000 annually. It’s a significant drop from the last tax break, which allowed developers to create “affordable” units priced at higher income tranches many New Yorkers could never touch...' _____________________________________________ If You Are Buying Commercial Or Residential Property In New York State, You MUST Protect It…That's Where Title Insurance And Due Diligence Comes In! Do Some Research Concerning The Title Insurance Provider That Will Be Used For Your Real Estate Purchase In New York! Watch ‘If You’re A Homebuyer In New York You MUST Protect It…That's Where Title Insurance And Due Diligence Comes In!' here https://lnkd.in/eME5S_3u. And remember that it’s your RIGHT to choose the title company you would like to use! Hallmark Abstract Service...You Buy Real Estate, We Protect It! #multifamily #taxbreaks #affordablehousing #nycrealestate #contruction #apartmentinvesting #CRE #nyc #485x #421a

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Real Estate Joins Chorus of Criticism Toward Hochul’s Congestion Pricing Pause Robert Khodadadian | Commercial Observer Articles about Robert Khodadadian from Commercial Observer New York’s authority on commercial real - https://buff.ly/4bML2WF #commercialrealestate #crenews #broker #investmentsales

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I have been getting a lot of calls lately from South Boston property owners wanting to know what their rental competition is like, and if they are accurately priced. South Boston sees some of the lowest turnover amongst the city's neighborhoods. When an apartment becomes available for rent, it makes sense for property owners to wonder how much the market has shifted since the last time they listed it years ago. Our 2024 South Boston Apartment Rental Market Report will help property owners, renters, and real estate agents alike to better understand the latest trends in this sub-market. Please read it and let me know your thoughts in the comments! #BostonApartments #BostonRealEstate #SouthBoston #SouthBostonApartments #SouthieMA #Renters #Landlords #RealTimeData #MostLandlords #MostListings #MostRealTimeData #MostKeys #MostLeads #MostDeals #MostTrusted #BostonPads

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