"The 2026 Income and Expense Study found that net operating income rose 6.2% from 2023 to 2024 for buildings with at least one rent-stabilized unit, indicating a positive trend in landlord income citywide."
"Despite the overall increase in landlord income, the report revealed a decline in net operating income growth as buildings became more heavily stabilized, with only a 2.4% increase in 100% stabilized buildings."
"Among pre-1974 buildings that were fully stabilized, net operating income rose just 1.4% citywide, highlighting the challenges faced by older, fully rent-stabilized properties."
The Rent Guidelines Board in New York City reported a 6.2% increase in net operating income for buildings with rent-stabilized units. Collected rent rose 4.8%, while total income increased by 4.9%. Operating costs also rose by 4.2%, and the percentage of distressed buildings decreased to 9.2%. However, net operating income growth declined in more heavily stabilized buildings, with only a 1.4% increase in pre-1974 fully stabilized buildings. The board will hold multiple meetings to determine lease adjustments for rent-stabilized units for the upcoming year.
Read at www.amny.com
Unable to calculate read time
Collection
[
|
...
]