2025 NYC real estate forecast: Buyers and sellers tango, renters hold their breath

… law could lead to higher rents The FARE Act introduced by City Council member Chi Ossé requires owners to pay their brokers … rate will spend most of the year in the sixes with a shortlived spike above 7 percent but never getting below 6 …

By Jennifer White Karp |January 2, 2025 - 12:30PM
NYC broker fee bill becomes law without Adams’s signature

… fee once this new law takes effect in June 2025 Council member Chi Ossé who introduced the law said in a statement … City Council and passed with a vetoproof majority of 42 members in favor on Nov 13th At a rally before the vote Ossé … may sue to block the laws implementation REBNY President James Whelan vowed to pursue all options to fight the …

By Celia Young |December 16, 2024 - 3:00PM
Broker fee bill passes with strong support in NYC Council vote

… vote this afternoon The FARE Act introduced by City Council member Chi Ossé eliminates a major financial hurdle for many … Yorkers came out in support of the bill including Council member Keith Powers who previously tried and failed to … prioritizing ideology over economic and practical reality James Whelan president of the Real Estate Board of New York …

By Celia Young |November 13, 2024 - 3:30PM