Real Estate Board of New York

Stories

NYC enforcement records show broker fee workarounds persist after ban

Leading legal challenge against FARE Act

New York City stopped letting brokers charge renters fees in June 2025. Records obtained by The City Reporter show some brokers still collect them, under names like "management fees" and "finders fees," or by selling access to "off-market" apartments.

Updated Nov 1

New York City builds the most apartments in a single year since 1965

Built World

As of July 2026: Tracking the construction pipeline

New York City finished 38,682 apartments in 2025, the most in a single year since 1965, driven by the City of Yes zoning rewrite and the 485-x rental tax break. The record has since run into complications: permit approvals fell nearly 28 percent in 2025 as tariffs and 485-x's wage rules pushed up costs, and developers began filing permits for buildings of exactly 99 units to avoid the program's higher wage threshold.

Updated Jul 9