As the featured speaker at Tuesday's quarterly gathering of the Brooklyn Real Estate Roundtable, Council Speaker Christine Quinn didn't tell the audience of developers, property owners and brokers what they wanted to hear. If the City wrests control over rent stabilization from the State, as is expected, Quinn said that it would likely work to undo the pro-landlord steps that have been taken in recent years regarding decontrol and destabilization. She also didn't give the impression that 421-a program would be reinstated anytime soon. The one bit of news that didn't elicit a groan from the crowd: She does not expect that the city will raise property taxes later this year. Oh, and she also made glowing comments about Two Trees when asked about the prospects for its proposed Dock Street development.
Speaker Quinn Bears Bad News for Real Estate Crowd
Copyright Brown - Brownstoner