Why are thousands of NYC apartments still sitting vacant?

New York City continues to see thousands of rent-stabilized apartments remain vacant across the five boroughs. Many property owners argue that rising renovation costs, increased operating expenses, and strict rent regulations have made it financially difficult to restore and re-rent certain units.

At the same time, lawmakers and tenant advocates continue pushing for stronger tenant protections and increased pressure on owners to return apartments to the market.

For NYC landlords, the result is an increasingly difficult operating environment involving: Higher construction and insurance costs Increased compliance obligations Greater Housing Court scrutiny Ongoing uncertainty surrounding rent-stabilized properties Our firm will continue to monitor developments impacting landlords and property owners throughout New York City. If you have questions regarding rent-stabilized units, lease enforcement, Housing Court proceedings, or landlord-tenant compliance issues, our office is here to help.

Our firm will continue to monitor developments impacting landlords and property owners throughout New York City. If you have questions regarding rent-stabilized units, lease enforcement, Housing Court proceedings, or landlord-tenant compliance issues, our office is here to help.

How Azoulay Weiss, LLP Can Assist

Azoulay Weiss, LLP assists property owners and managers in navigating the

requirements of the Good Cause Eviction Law, including analyzing whether properties

qualify for statutory exemptions and ensuring that leases and notices comply with the

new requirements.

We also represent clients in litigation arising under the statute and in matters involving

government oversight. Enforcement agencies, including the Tenant Protection Unit of

the Division of Housing and Community Renewal and the Housing Protection Unit of the

New York Attorney General’s Office, are expected to closely monitor compliance.

Our firm is prepared to guide owners through these new regulations and to represent

their interests in court and before administrative agencies when necessary.