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Rent increases in NYC-controlled co-ops linked to rising costs, Jay Parsons notes
Jay Parsons reports that rents in co-ops managed by New York City will increase as a result of higher mortgage payments and operating costs.
He points out an apparent inconsistency, noting that similar cost increases are often criticized when cited by private landlords but are accepted as justification for public co-op rent hikes.
Parsons has recently challenged estimates of private equity ownership, stating that most large U.S. apartment buildings are likely held by these firms rather than the reported 13% stake in a prior analysis. In a separate article, he described New Mountain's entry into the apartment sector as primarily an ownership transition after a change in control. These reports focus on the evolving patterns of property ownership and management in the multifamily housing sector.
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