NYC's Rent-Stabilized Tenants Face Third Year of Price Hikes [BNN Bloomberg (Canada)]
New York Community Bancorp, Inc. (NYCB)
Last new york community bancorp, inc. earnings: 4/29 07:00 am
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Source: BNN Bloomberg
The city's Rent Guidelines Board on Tuesday endorsed potential rent hikes of 2% to 4.5% for one-year leases and 4% to 6.5% for two-year leases. Price increases in those ranges are likely to be approved at a final vote in June. New York City's rent-stabilized apartment market has come under pressure in recent years. Landlords argue that the rental income from stabilized units has failed to keep up with steep inflation and higher costs as interest rates soared. A 2019 rent law aimed at protecting tenants has also made the situation tougher for property owners. The challenges have started to raise concerns at banks including New York Community Bancorp Inc. The Hicksville, New York-based company and Signature Bank, which failed last year, were major lenders to the market. The Community Housing Improvement Program, which represents property owners, said the ranges approved on Tuesday would not go far enough to fund improvements for rent-stabilized buildings. “A guideline near the
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NYCB
Earnings
- 5/1/24 - Miss
NYCB
Sec Filings
- 5/16/24 - Form 8-K
- 5/16/24 - Form 144
- 5/15/24 - Form DEFA14A
- NYCB's page on the SEC website