Climate Law Uncertainty, Lawmakers Float "Anti-Slumlord" Bill

New York Real Estate Practice Group Leader Stuart Saft was quoted in a Real Deal article recapping legal developments affecting the city's real estate sector. The article highlighted potential amendments to the state's climate law amid concerns about affordability and the ways any changes would affect New York City's Local Law 97. Mr. Saft spoke with The Real Deal about the launch of Co-Ops and Condos United of NY, an advocacy group consisting of co-op and condo owners representing more than 100,000 units across five boroughs. The group aims to unite similar, existing coalitions to advocate for policy changes, including reforms to Local Law 97, as well as push back against legislative and executive initiatives such as New York Mayor Zohran Mamdani's proposed 9.5 percent property tax increase. He said such an umbrella organization can aid current advocacy efforts as well as protect landlords from political repercussions for supporting or opposing a policy.

"The owners of co-ops and condos are pawns in a chess game between the mayor and the governor," he commented. "This gives us the ability to say enough is enough, we're not taking it anymore."

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