Queens, NY On January 29th, NYC Department of Buildings commissioner Rick Chandler spoke at the Long Island City Partnership’s Business Breakfast. The commissioner discussed the new DOB NOW portal that standardizes processes for filing various applications and permits online. DOB NOW will increase transparency by providing up-to-date information on status, with new functions expected to be rolled out over the next few year.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,