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New York Real Estate Is Business as Usual and Vigilant

A temporary injunction against the Department of State guidance barring tenant-paid broker commissions has many asking could the court deem it as justified since it is not law but a litigation position? Leni Morrison Cummins, a real estate attorney at Cozen O’Connor, tells GlobeSt.com.

Queens skyline.

NEW YORK CITY – The New York real estate industry gathered in arms on Monday to secure a temporary injunction against the Department of State guidance barring tenant-paid broker commissions from a landlord-retained real estate agent, but many are asking how long will the injunction last, could the court deem it as justified since it is not law but a litigation position?  Leni Morrison Cummins, a real estate attorney at Cozen O’Connor, tells GlobeSt.com 

Since the passing of the Housing Tenant and Protection Act in 2019, the market has experienced a slowdown. The legislation clamped down on the popular strategy of transitioning rent-stabilized units to market-rate housing and set a standardized apartment application fee to $20, which significantly tempered investor enthusiasm. However, with the Department of State guidance of a rental-fee ban has flushed everyone in the industry to take a closer look at the legislation, Cummins said.

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Mariah Brown

Mariah Brown

Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.

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