R&E Member Daniel M. Bernstein on NYC Multifamily Podcast: The Billion Dollar Program Changing NYC Housing with Daniel M. Bernstein

Rosenberg & Estis, P.C. Member Daniel M. Bernstein recently joined Seth Glasser and Jake Toth of Marcus & Millichap on the New York Multifamily podcast for a discussion on several key issues shaping NYC’s multifamily market. Click here to listen to the full episode.

The insightful episode covered the growing role of rent subsidy programs like CityFHEPS and Section 8, which have become a major factor in property operations and cash flow, along with the continued importance of Article XI tax exemptions for affordable housing projects. Notably, the City has since reached a budget agreement that expands funding for housing vouchers, including an additional $125 million baselined in future years, further underscoring the program’s continued growth and impact.

Daniel, Seth and Jake also discussed the proposed Community Opportunity to Purchase Act (COPA), which could significantly impact multifamily transactions, and the new J‑51R program, designed to incentivize building rehabilitation.

If you have questions about rent subsidies, tax incentives, repositioning, or financing strategies for NYC multifamily properties, please contact Daniel M. Bernstein or your trusted R&E attorney.