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Jay Martin 🪾

@jaymart2226,560 subscribers

Supporter of better housing policy. Founder of Bristlecone Group, strategic regulatory and communications consultant. Go Bills.

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The reality of operating 100-year-old rental buildings in New York City is that you can be an owner of a building with 0 violations; then it rains, the street floods, and water pours out of the walls into the boiler room, causing tens of thousands in out-of-budget damage. Nothing is easy about being a property owner.

The reality of operating 100-year-old rental buildings in New York City is that you can be an owner of a building with 0 violations; then it rains, the street floods, and water pours out of the walls into the boiler room, causing tens of thousands in out-of-budget damage. Nothing is easy about being a property owner.

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What’s upsetting about this isn’t that the Mayor is “attempting to protect tenants”; what is upsetting is that it’s performative bullshit. 1) The City of New York right now, today, can go in these buildings and repair them. HPD already has a program that does this and then bills the property owner (in this case, the debtor). Instead of press conference performance art, they could turn to the woman they are standing next to and actually make her apartment better tonight if that was the goal. 2) Half a million renters live in deplorable housing conditions in public housing that the Mayor is directly responsible for. In his first week, the mayor and his “tenant protector” haven’t utterd a word about the condition of their housing and how they are going to fix the $78 billion dollar problem that is. Why? 3) This is not about helping renters. You don’t bankrupt the buildings people live in, then complain the owners have no money to fix the building you bankrupted if your goal is to actually help the people who live inside of it. The average rent in the Pinnacle portfolio was $1,348. That’s $1,000 dollars per month below what the government charges taxpayers to run public housing in NYC. In the Assembly, the Mayor opposed changes to the 2019 rent law that would allow an owner to be compensated for ANY repair on vacant apartments. Empty. The Mayor is counting on people hating landlords more then they care about actually fixing our broken housing system. So far his election has proven him right.

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