Views from the Northwest Bronx

In this post, we will focus on financing trends among owners and investors in private, rent-stabilized housing in New York City. Below is an attempt to capture some of the changes in the housing finance landscape over the past number of months and particularly since the beginning of the current public health crisis. Without predicting the future, we hope to raise a number of questions as to where that market is headed and how tenants might be affected, with an emphasis on data and  examples from the Bronx. 

Among the many health and economic concerns facing New York City during the Covid-19 Pandemic is the ability of affordable housing projects to continue to provide the safe and quality housing that residents deserve. With massive unemployment requests and businesses closing indefinitely, rent collections are projected to drop significantly.

The UNHP Northwest Bronx Resource Center is committed to bringing needed resources to our Bronx community. That commitment is renewed as we face this ongoing COVID-19 crisis. We know people need information about health, food, financial, and housing resources at this time. This guide was updated in February 2021. The link to the updated guide is in the blog and can be also be found on our website under publications/guides