Hilary Botein said she was surprised to be asked to serve on the board. (Photo courtesy of Hilary Botein)
By Sabina Mollot
Last Thursday, Mayor Bill de Blasio announced two new appointments to the Rent Guidelines Board — the same day the board held its first meeting to help determine this year’s rent increase (or freeze) for over a million households.
One was real estate professor and lawyer David Reiss. The other was Hilary Botein, an attorney and associate professor at Baruch College’s Marxe School of Public and International Affairs, who teaches courses on housing and community development policy. Both she and Reiss are now public members, replacing K. Sabeel Rahman and Steven Flax.
Reached on the phone after Botein attended her first RGB meeting as an active participant, she told Town & Village the call from the mayor’s office came as a surprise. However, saying yes to the unpaid position wasn’t difficult for Botein, who’s been to many RGB hearings and meetings as an observer and has also sent her students to the often raucous forum for assignments.
“It is a lot of work and a big responsibility,” she said, “but I also felt it was an opportunity to bring my experience and knowledge of housing in New York to (impact) millions of people.”
Tenants hold signs at a rally at City Hall, followed by a City Council hearing on legislation aimed at curbing the practice of predatory equity. (Photos by Sabina Mollot)
By Sabina Mollot
On Halloween, dozens of tenants holding spooky signs rallied at City Hall to bash landlords as vampires if they engage in predatory equity. The event was held prior to a City Council hearing on a package of bills that were aimed at stopping the blood-sucking practice.
Predatory equity is generally defined as when a landlord purchases a property with a high level of debt that could only be expected to be paid if the owner aggressively tries to get rid of rent-regulated tenants and replace them with higher paying ones. Tactics that could be considered aggressive by landlords include harassment via frivolous lawsuits, a lack of basic maintenance, illegal fees, constant buyout offers or construction that’s unsafe or seems gratuitously disruptive.
One of the City Council members pushing legislation, Dan Garodnick, gave the example of Stuyvesant Town’s sale to Tishman Speyer a decade ago as a prime example of predatory equity.
“This is when landlords overpay for buildings with the speculation that they will be able to deregulate units and drive out tenants,” he said. “You’re not making them enough money so they will try anything to get you out of there. This is harassment.”