REBNY Slams Rental Ripoff Report as Painting Industry with “Broad Brush”

REBNY Slams Rental Ripoff Report as Painting Industry with “Broad Brush”
News| July 16, 2026| Paul Bubny

Mayor Zohran Mamdani on Thursday issued the Rental Ripoff Report, a package of 23 tenant protection recommendations. The Real Estate Board of New York (REBNY) responded with a statement from President James Whelan saying that the administration “continues to paint property owners with a broad brush, unfairly characterizing an entire industry.”

The recommendations, derived from public hearings the Mamdani administration held citywide earlier this year, include: recognizing tenant unions, expanding tenants’ ability to organize and bargain collectively over building conditions and other shared concerns; requiring landlords to disclose when rental listings have been altered using artificial intelligence or other digital tools; modernizing building owner registration and communication systems; and using the city’s full enforcement authority to crack down on “repeat-offender” landlords through inspections, enforcement programs and litigation.

“At Rental Ripoff Hearings across the five boroughs, we heard from thousands of New Yorkers living with mold that was never treated, pests that were never addressed and fees that were never explained,” Mamdani said Thursday. However, Whelan pointed out, “many of the reported conditions are concentrated in heavily rent-stabilized buildings that are facing significant operational and financial challenges.”

A REBNY study released in February reported that although apartment buildings with 75% to 100% rent-stabilized units make up just 2% of the city’s housing stock, they account for 57% of buildings with at least 10 Class C violations.

If you’re reading about the multifamily industry, you should be in the room with its leaders. Connect Apartments brings together the executives featured in Connect CRE’s coverage for an afternoon of high-level insights and unmatched networking on September 22 at The Biltmore in LA.

Other News

JLL Arranges Financing for Lightstone Acquisition on Upper West Side

New York & Tri-State + Apartment Buildings

JLL Capital Markets arranged acquisition financing for Lightstone’s purchase of 323 W. 96th St., a 174-unit multifamily property on Manhattan’s Upper West Side. Senior managing director Peter Rotchford and managing director Michael Shmuely worked on behalf of Lightstone to secure the financing from MF1, a wholly owned subsidiary of Berkshire Residential Investments. Lightstone is acquiring...

Learn more

National City Investment Group Commences Workforce Housing Build

California & West + Apartment Buildings

The National City Investment Group, a locally owned, privately held real estate investment company, recently broke ground on Market View, a 120-unit multifamily residential community located at 303 Highland Ave. in National City. The development will transform an underutilized parking lot adjacent to Manolo Farmers Market, which has served National City for more than 33...

Learn more

Levin Johnston Closes Apartment Sale in One of San Jose’s Strongest Submarkets

California & West + Apartment Buildings

 Levin Johnston of Marcus & Millichap recently completed the sale of First Street Manor, a 39-unit apartment community in San Jose. Executive managing directors Adam Levin and Robert Johnston, along with senior director, investments Cole Simpson, represented the seller and procured the buyer in the $9.112-million transaction. The Levin Johnston team demonstrated the asset’s upside...

Learn more
New call-to-action

Brokers

View All

Lenders

View All

Management

View All
Login
or
Sign up