According to the Office of Special Enforcement, all of the units at 200 East 116th Street were converted into illegal short term rentals. Image Credit: Google Maps

The lawsuit claims that at least 130 apartments were converted into illegal short-term rentals. On January 14, 2019, the Mayor’s Office of Special Enforcement announced that it filed a lawsuit against several defendants for converting apartments in 35 residential buildings into illegal short-term rentals through websites like Airbnb. The defendants include Metropolitan Property Group (MPG), five current or former MPG employees and 18 associated corporate entities. The lawsuit was filed on January 14, 2019, in New York State Supreme Court. (more…)

Image credit: New York City Office of the Comptroller

On April 2018, New York City Comptroller Scott M. Stringer issued a report on the impact of Airbnb on City rents. The report looked at how the home-sharing company impacted rent in the City over the period of 2009 to 2016. The report found that rental rates increases during this time period can be attributed to Airbnb. (more…)