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In this episode of Inside R&E, Zachary J. Rothken, Member and Head of the firm’s Administrative Law Department, invites Jay Martin, Executive Director of the Community Housing Improvement Program (CHIP), for a fascinating discussion on New York’s “housing crisis” as a timely response to the recent passage of two bills (“Regina repealer bills”) by the New York State Legislature which may significantly impact rent stabilized properties and reverse the property rights and protections provided by the Court of Appeals in Regina and Casey.
As a long-time advocate for the Vacancy Reset Bill, Jay explains many of the ways in which the housing crisis is effectively caused by “the law that is there to fix it” – namely, rent stabilization. In this last legislative session, Jay says, the NYS Legislature acknowledged, for the first time since the passage of the Housing Stability and Tenant Protection Act (HSTPA) of 2019, that there is a major problem with vacancies in rent stabilized housing and that the law had gone too far with the IAI decrease to a cap of $15,000. Jay is at the forefront of CHIP’s lawsuit, with a petition for certiorari currently at the United States Supreme Court, arguing that landlords have consistently been asked to provide a housing product without adequate compensation, and that rent stabilization is a “self-fulfilling prophecy in that it diminishes the supply of housing.” Over the course of their discussion, both Zachary and Jay show how pro-business and pro-housing policies together will create a more realistic and sustainable housing situation for all New York residents, while also helping to control the divisive political narrative surrounding the housing crisis.
CHIP Executive Director Jay Martin is an expert in rent-stabilized housing policy, representing more than 4,000 CHIP members who provide nearly 400,000 units of rent-stabilized housing in New York City. Jay is the voice for hard-working property owners who have built strong communities throughout New York City. He is a leading advocate for finding compromise on housing solutions, rejecting traditional narratives that pit tenants against property owners. Prior to joining CHIP, he was the Chief of Staff to New York State Senator David Carlucci and the Director of Operations for the Senate Independent Democratic Conference. City & State named him a 40 Under 40 Rising Star in 2017 and has continually named him one of the most powerful members of the New York Real Estate industry since 2019.
Zachary’s practice focuses on complex rent regulatory issues concerning rent stabilization and rent control. He represents property owners in administrative proceedings before DHCR and other administrative agencies, including claims alleging rent overcharge, TPU audits, petitions for administrative review and reduction of services. Zachary counsels prospective purchasers, sellers and lenders in performing due diligence on properties subject to rent regulation. His practice also includes representing property owners in a wide variety of litigation matters, including: Article 78 proceedings, Supreme Court actions and landlord-tenant summary proceedings. Zachary is frequently invited to speak on webinars, podcasts and in-person panels addressing rent stabilization and related legislative developments.
For any questions related to this episode, please contact Zachary J. Rothken at [email protected] or (212) 551-8453.
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