Brick Underground

06/11/2026

The J-51 tax abatement, which was set to expire at the end of the month, is now back with expanded eligibility and bigger benefits.
The abatement has been extended for 10 years, covering eligible improvements through June 29th, 2036. This is much longer than the four-year extensions of the past and should give NYC co-op and condo buildings more time to take advantage of the program.
Through the J-51 program, co-op and condo boards can recoup the cost of major infrastructure upgrades as a property tax abatement. The abatement is delivered annually and can be no more than 8.3 percent of the costs, over a maximum of 20 years.

One final legislative hurdle remains.

06/10/2026

Housing lottery applications are open for 303 rent-stabilized apartments at Peninsula, a new development at 1221 and 1225 Spofford Ave. in the Hunts Point section of the South Bronx. Households that earn $19,235 to $166,250 are eligible to apply, depending on the number of people you live with. Rents start at $465 for a studio.
The 14- and 17-story buildings have fitness rooms, card-operated laundry, outdoor terraces and a bike room. Parking spaces will be available on a first-come, first-serve basis for an extra fee. Units have dishwashers and free broadband internet. Rent includes heat and cooking gas, and tenants pay for electricity.
The South Bronx development is located at the site of the Spofford Juvenile Detention Center, a former juvenile jail that closed in 2011 after years of complaints of abuse and inadequate conditions.
If you’re interested and think you might qualify for one of these apartments, create a profile and apply online via NYC Housing Connect.

Apply by July 7th.

06/08/2026

A subletter was asked to move out within a few days. Is this legal?

06/08/2026

For buyers with incomes at or below a certain level, the State of New York Mortgage Agency (SONYMA) offers loans to help them buy units at or below the city's median sales price.
SONYMA loans allow a 3 percent down payment for single-family houses and condos and a 5 percent down payment for co-ops. Of those amounts, buyers must make a minimum cash contribution of 3 percent for a co-op and 1 percent for other property types.
Only certain lenders offer SONYMA loans, which require additional paperwork. If you're using a mortgage broker—one who works with many lenders to arrange a loan for a client—you won't hear about SONYMA loans because the agency only works directly with lenders. And many buildings in NYC, especially co-ops, limit financing beyond the bank's requirements, making SONYMA loans more challenging to secure.
Check out Brick's guide to SONYMA loans, updated for 2026.

You can use rent and utility bills to show your credit history.

06/04/2026

How do the owners of fabled Upper East Side co-ops achieve the sophisticated design of their apartments? With teamwork.

To start, you need a qualified design firm, an architect, and an experienced general contractor. If you are missing one of these, or using inexperienced teams, then the project can collapse into an expensive debacle.

Design Firm: develops the vision
Architect: aligns it to practical constraints and building code
General Contractor: makes the reality match the plan

Check the link in the comments for a deep dive into what to look out for when building the team for your dream unit.

06/03/2026

Two friends Bernie Sinclaire and Anabelle Gonzalez decided to move in together to split the workload of parenting and rent. Now they live together in a three-bedroom in Hamilton Hills with Gonzalez’s daughter and Sinclaire’s sons.
The two single moms—who are also teachers—highly recommend this strategy, which they call their “mommune," as in a commune of moms.
Who does this make sense for? “This is absolutely right for women who are struggling to make rent, first of all, and find themselves in a position where the only way they see getting financial relief is by winning the lottery or meeting a guy,” Sinclaire said.
Check out the article to find out if this could be the housing solution for you.

Having similar parenting styles is key.

06/02/2026

From prewar co-ops to Brooklyn brownstones, the right window depends on where you live–not just what you like.

One practical consideration before making your selection: who needs to approve changes to your building?

06/01/2026

Ask Altagracia: Our landlord says our place will be demolished. What rights do we have?

- Landlords must prove genuine demolition plans to bypass Good Cause protections

- You can push back against intimidation or neglect by filing a harassment claim

06/01/2026

A NYC rental unit can generate reliable monthly income and act as a shield against inflation. But navigating the dual demands of financing the purchase and managing day-to-day landlord duties—like tenant screening and emergency plumbing—is a major commitment.
Here's Brick's guide—updated for 2026—on how to buy an co-op or condo unit to rent out, including where you should look, what apartment size to consider, and how much you can expect to take in each month.

Buying with all cash boosts your ROI.

05/28/2026

Mayor Zohran Mamdani yesterday released a far-reaching plan to build 200,000 affordable housing units and preserve an additional 200,000 units over the next decade to tackle the city’s housing crisis.
The 112-page “Block by Block” plan calls for spending $22 billion on housing for renters and owners over the next five years, including the creation of permanently affordable co-ops for working class New Yorkers. The Mamdani administration would also double the size of the Open Door program to expand affordable homeownership opportunities.
A large part of the proposal focuses on speeding up repairs in public housing. It would invest $5.6 billion—the largest capital investment in New York City Housing Authority in recent history—to address leaks, mold, and faulty elevator service, and expand participation in tenant associations, among other initiatives. The administration will also expand NYCHA's role as a public housing developer.

How will this pencil out?