CHIP NYC Profile
CHIP NYC

@nyc_chip

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Non-Profit Organization working with building owners, tenants, and elected officials to preserve affordable housing in New York.

New York, NY
Joined November 2018
Don't wanna be here? Send us removal request.
@nyc_chip
CHIP NYC
10 days
Section 8 Demand Highlights Need for a State Voucher System:
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@nyc_chip
CHIP NYC
10 days
"The overwhelming percentage of homeless in New York City are average working class people." Visit for more information.
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@nyc_chip
CHIP NYC
2 years
Despite a housing shortage, there are tens of thousands of vacant units that are rent-stabilized and off the market. See why:
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@nyc_chip
CHIP NYC
1 year
Here’s a 4 bedroom in the Bronx that has been forced vacant:
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@nyc_chip
CHIP NYC
2 years
Again — Good Cause will not help one tenant who is behind on their rent. It will not help one tenant who can’t afford their rent. It will only exacerbate our housing shortage and force rent prices upward!
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@nyc_chip
CHIP NYC
2 years
Good Cause does not address non-payment evictions. Roughly 90% of evictions are for non-payment.
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@nyc_chip
CHIP NYC
2 years
‘Under New York’s new rules, regardless of how much money Eccles spends to get an apartment ready for tenants, he can’t add more than $89.29 to the monthly rent. “The lowball estimate on renovating one of my two-bedrooms,” he said, “was $88,000.”’
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@nyc_chip
CHIP NYC
2 years
You cannot regulate your way out of a housing shortage.
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@nyc_chip
CHIP NYC
2 years
Good Cause does not address non-payment evictions. Roughly 90% of evictions are for non-payment.
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@nyc_chip
CHIP NYC
2 months
1 in 10 rent-stabilized buildings in NYC are in insolvent:
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@nyc_chip
CHIP NYC
2 years
The Emergency Rental Assistance Program was in no way a "bailout" for property owners. It provided rent assistance for tenants in need. In most cases, it didn't cover all the arrears of struggling renters. Suggesting it was a bailout for owners is disingenuous. #RGB
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@nyc_chip
CHIP NYC
6 months
How bad is rent-stabilized housing in New York? Taking new ORA and recent NYC Rent Guidelines Board data together, we can see: Median rent is $1,536 for all registered rent-stabilized apartments. Over 400,000 rent-stabilized apartments have rents of $1,500 or less More…
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@nyc_chip
CHIP NYC
1 year
A growing number of Rent-Stabilized buildings in New York are dying: (article via @trdny )
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@nyc_chip
CHIP NYC
11 months
This is important.
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@nyc_chip
CHIP NYC
2 years
NYC housing market right now: ✅ Bidding wars ✅ Signing leases sight unseen ✅ Record breaking rents With over 20,000 empty units stuck in housing purgatory?
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@nyc_chip
CHIP NYC
2 years
Let’s look at some NYC rent-stabilized units that have been left vacant after the 2019 HSTPA law:
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@nyc_chip
CHIP NYC
11 months
NYCHA announced that it would cost $78 billion to adequately renovate and upgrade their housing stock, which calculates out to more than $400,000 per apartment.
@nyc_chip
CHIP NYC
11 months
NYCHA Fiscal Needs Illustrate High Costs of Operating Housing:
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@nyc_chip
CHIP NYC
2 years
Follow @NyVacant where we’ll be posting one of the over 42,000 vacant rent-stabilized units everyday! 1BR in Harlem Current rent: $737 Est. Renovation Cost: $85,000 New rent: $820 Est. 30-year loss: $148,720
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@nyc_chip
CHIP NYC
10 months
On this Week’s Issue of: Why Rents are High in NYC… PROPERTY TAXES
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@nyc_chip
CHIP NYC
8 months
Did you know property taxes are a big reason why rents are so high in New York City? We explain why:
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@nyc_chip
CHIP NYC
11 months
Our organization has filed a lawsuit challenging the constitutionality of New York State’s rent-stabilization law. See why:
@nyc_chip
CHIP NYC
11 months
This is important.
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@nyc_chip
CHIP NYC
2 years
How much does it cost to completely renovate a small 2 bedroom apartment in NYC? We made this helpful explainer video:
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@nyc_chip
CHIP NYC
10 months
There are empty rent-stabilized apartments all over NYC. Why can’t you move into them?
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@nyc_chip
CHIP NYC
2 years
Check out this 1BR in Sunnyside!
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@nyc_chip
CHIP NYC
10 months
Why are rents so high in NYC? *LACK OF SUPPLY*
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@nyc_chip
CHIP NYC
3 months
NYC taxes multifamily buildings 7x more than single-family homes. Fixing the broken property tax system will lower rents.
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@nyc_chip
CHIP NYC
1 year
If @NYCCouncil members truly want to tackle affordable housing, why not start by fixing our broken property tax system?:
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@nyc_chip
CHIP NYC
5 years
Our ED Jay Martin warns that NYC Housing quality will suffer if MCIs / IAIs go away.
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@nyc_chip
CHIP NYC
4 months
NEW: Rent-stabilized buildings have seen their values plummet in the past few years, creating a moment of crisis for New York City.
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@nyc_chip
CHIP NYC
2 years
You cannot regulate your way out of a housing shortage.
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@nyc_chip
CHIP NYC
1 year
Let’s look at some rent-stabilized apartments that have been forced vacant in NYC:
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@nyc_chip
CHIP NYC
1 year
Quick explainer on the state of rent-stabilized housing in NYC.
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@nyc_chip
CHIP NYC
2 months
“Individual Apartment Improvement (IAI) proposals that do nothing to change the long-term financial stability of these buildings are unacceptable.”
@nyc_chip
CHIP NYC
2 months
New York State Budget Negotiations Need Real Solutions for RS Housing:
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@nyc_chip
CHIP NYC
2 years
Gut renovating an apartment in NYC is expensive. Don’t take our word for it… This is what State of New York says:
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@nyc_chip
CHIP NYC
2 years
The average rent-stabilized apartment in NYC is $1,422 per month. Where does that money go in the average building?
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@nyc_chip
CHIP NYC
5 months
NEW: The Community Housing Improvement Program (CHIP) is proposing a property tax break for existing affordable housing as part of its comprehensive property tax reform. Release: Report:
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@nyc_chip
CHIP NYC
9 months
For rent-stabilized apartments in NYC, fuel costs went up almost 20% from 2022-2023, but rents stayed largely the same. It is the same story with power, water, property taxes, insurance, labor, materials, and more. It’s not sustainable.
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@nyc_chip
CHIP NYC
2 years
Who benefits from rent-stabilization?
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@nyc_chip
CHIP NYC
5 months
CHIP is also proposing a long-term solution: A new property tax class for rent-stabilized buildings, which would allow lawmakers to more effectively craft tax policy to reflect the unique financial situation of rent-stabilized properties.
@nyc_chip
CHIP NYC
5 months
NEW: The Community Housing Improvement Program (CHIP) is proposing a property tax break for existing affordable housing as part of its comprehensive property tax reform. Release: Report:
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@nyc_chip
CHIP NYC
4 months
Rent-stabilized buildings are facing a sudden dramatic decrease in value. This is not good for New York.
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@nyc_chip
CHIP NYC
4 months
Two-thirds of rent-stabilized buildings are at risk of selling for less than their last sales price and nearly two-thirds have lost market value since 2018. Many rent-stabilized owners have been forced to operate at a deficit due to new regulation in the past few years. This…
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@nyc_chip
CHIP NYC
9 months
Read: @trdny ’s “Distress in Rent-Stabilized Housing Rises to Surface” The housing millions rely on in NYC is becoming financially insolvent.
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@nyc_chip
CHIP NYC
1 year
Our Executive Director @jaymart222 went on Capitol Tonight with @sarbetter to discuss LHLRA, our bill to address the vacant unit problem in New York.
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@nyc_chip
CHIP NYC
1 month
In the latest edition of Housing with Skye, @SkyeStats speaks with @PiSanchezNYC about the need for more housing, more vouchers and focusing on solutions to NYC’s housing crisis. Watch:
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@nyc_chip
CHIP NYC
3 months
CHIP Condemns Misleading Comptroller Report on Vacant Rent-Stabilized Apartments:
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@nyc_chip
CHIP NYC
10 months
The apartments that need the most renovation work have the lowest rents.
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@nyc_chip
CHIP NYC
2 years
@galeabrewer @CMCarlinaRivera Rent-stabilized building owners already register vacant units when they file RPIE reports. The NYC Dept. of Finance should have a list of all vacant units.
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@nyc_chip
CHIP NYC
2 years
How much does it cost to renovate a small two-bedroom apartment in NYC? Visit + Instagram and Tik Tok for more explainer videos and tours of some of the 20,000 empty units in NYC we want back on the market.
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@nyc_chip
CHIP NYC
5 months
The property tax system in New York is broken. We have a solution to fix it: #housing #NYC
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@nyc_chip
CHIP NYC
1 year
CHIP Responds To Legislative Passage Of Unconstitutional Housing Bills:
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@nyc_chip
CHIP NYC
9 months
Gut renovating an apartment is expensive.
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@nyc_chip
CHIP NYC
2 years
Today is another beautiful day to build more housing.
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@nyc_chip
CHIP NYC
2 years
👀 @NYVacant will be highlighting apartments like the below everyday. Give a watch and follow for more!
@NyVacant
Vacant in NYC
2 years
1BR in Harlem Current rent: $737 Est. Renovation Cost: $85,000 New rent: $820 Est. 30-year loss: $148,720
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@nyc_chip
CHIP NYC
7 months
“A better way than Housing Court: N.Y. should try using an eviction diversion program” Housing Court in New York City is failing renters and housing providers. It’s time for something better. – @JayMart222 for the @NYDNOpinion
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@nyc_chip
CHIP NYC
2 years
Come tour this vacant apartment in the West Village! Only thing is, it’s not currently on the market. Find out why:
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@nyc_chip
CHIP NYC
3 months
Have questions about housing? We know you do because you’re in our comments and DMs! That is why we are partnering with @SkyeStats on a new series #housingwithskye running each Sunday. If you have ideas for collaboration or episode ideas drop a comment below!
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@nyc_chip
CHIP NYC
3 months
“The weekly program, already into its second episode, has tackled subjects like the city’s housing crisis, the expired 421-a tax incentive for building affordable housing and the record-low vacancy rate for habitable apartment units.” (via @RalphOrtega /…
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@nyc_chip
CHIP NYC
11 months
I guess on a long enough timeline 60 years could be considered temporary?
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@nyc_chip
CHIP NYC
4 months
With housing continuing to be a major priority in the governor’s office and the New York Legislature, @CapitalTonight turned to the Community Housing Improvement Program:
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@nyc_chip
CHIP NYC
2 years
Why are so many rent stabilized apartments in bad shape when people more out? Here’s a quick explainer:
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@nyc_chip
CHIP NYC
1 year
New York has over $2,000,000,000 in unpaid rent. There are tens of thousands of renters in need of assistance. Thousands of property owners are struggling to pay their property taxes and mortgages. We must look at housing holistically.
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@nyc_chip
CHIP NYC
1 year
Gut renovating an apartment in NYC is expensive, but don’t take our word for it, the State of New York outlines the costs! Watch:
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@nyc_chip
CHIP NYC
2 years
A must-read, harrowing story that has become all-too-common. “What I saw was nothing close to what I could have imagined. What the apartment had been turned into was sickening.” Thank you to @suzannahcav , @erik_engquist and @trdny for your coverage.
@trdny
The Real Deal
2 years
Landlord @GilbertKennisha ’s tenants stopped paying rent, flooded her apartment with dog urine and were arrested for assaulting her. But two years into her nightmare, they’re still not evicted.
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@nyc_chip
CHIP NYC
11 months
Most rent-stabilized tenants pay a staggering 35-40% of their rent check back to the city in property taxes.
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@nyc_chip
CHIP NYC
4 months
Good Read: Stabilized but unstable: Rent regulation is worth reexamining (via @NYDailyNews ) (thread)
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@nyc_chip
CHIP NYC
2 years
Good Cause will not help one tenant who is behind on their rent. It will not help one tenant who can’t afford their rent. It will only exacerbate our housing shortage and force rent prices upward.
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@nyc_chip
CHIP NYC
1 year
The State Legislature has a bill to create tens of thousands of new rent-stabilized apartments in New York.
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@nyc_chip
CHIP NYC
5 months
The Local Regulated Housing Restoration Adjustment as one of the bills to watch this legislative session. LRHRA could align well with the governor’s push to increase housing supply. The bill would quickly get vacant units renovated and back on the market at rent levels…
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@nyc_chip
CHIP NYC
2 years
There may be as many as 40,000 vacant rent-stabilized units in NYC, with most needing more than 80,000 in renovations.
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@nyc_chip
CHIP NYC
2 years
We launched a new Twitter account yesterday -- @NyVacant Today we are in Harlem looking at a unit that would lose nearly $150,000 over 30 years because of bad NYC housing laws. Read more about this new effort here:
@NyVacant
Vacant in NYC
2 years
1BR in Harlem Current rent: $737 Est. Renovation Cost: $85,000 New rent: $820 Est. 30-year loss: $148,720
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@nyc_chip
CHIP NYC
2 years
CHIP estimates that at least 40,000 units with an average renovation cost of $80,000 would be renovated and available for rent in 12 months. This would create at least $3.2 billion in economic activity.
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@nyc_chip
CHIP NYC
2 months
“Older rent-stabilized buildings are at a breaking point, and without help, we will see massive losses in this housing supply.”
@trdny
The Real Deal
2 months
New York Community Bank is going over its real estate loans one by one. What it has found so far paints a less than pretty picture of how rent-stabilized properties are faring.
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@nyc_chip
CHIP NYC
2 years
A prime example of what is wrong with current housing policy in NYC:
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@nyc_chip
CHIP NYC
11 months
We need to be honest about the cost of providing affordable housing in New York. @NYCHA needs $78 BILLION over the next 20 years to renovate and maintain their housing stock. That’s over $400,000 per unit. So what about rent-stabilized apartments?
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@nyc_chip
CHIP NYC
11 months
The cost of operating and renovating one unit would take more than 80 years to pay back:
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@nyc_chip
CHIP NYC
4 months
“Lawmakers need to pass reforms that allow apartments to get the necessary renovations, upgraded to the current building codes, and be put back on the market at voucher payment standards.”
@NyVacant
Vacant in NYC
4 months
Here’s a 2BR apartment in LIC for $1,185 a month … with a balcony! Thousands of rent-stabilized units in NYC like this are empty due to high renovation and operating costs. We need to get these apartments back into the hands of New Yorkers that need them. Watch:
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@nyc_chip
CHIP NYC
2 years
It turns out you *can* regulate your way *into* a housing shortage.
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@nyc_chip
CHIP NYC
1 year
The Brooklyn, Queens, the Bronx and Manhattan Chambers of Commerce endorsed a bill to get tens of thousands of empty apartments back on the market. Support is growing:
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@nyc_chip
CHIP NYC
2 years
This is an excellent thread with lots of supporting evidence and articles.
@jayparsons
Jay Parsons
2 years
Lots of articles of late are saying things like "rent control remains rare due to landlord opposition." This is very misleading. Sure, landlords oppose it. But who cares? More importantly: SCIENCE opposes rent control. And history, too. Here are better sources to cite:
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@nyc_chip
CHIP NYC
2 years
Rent-stabilized building owners are required by law to "open their books". They file RPIEs each year that detail all of their income and expenses. It is unfortunate that some perpetuate this lie at the #RGB hearings.
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@nyc_chip
CHIP NYC
1 year
Rent-stabilized buildings in New York are falling into financial distress. Here’s why:
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@nyc_chip
CHIP NYC
10 months
NYC argues that rent-stabilized property owners have seen tremendous net operating income growth since 1990 in a recent court filing. This is a disingenuous argument put forth by the Rent Guidelines Board each year.
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@nyc_chip
CHIP NYC
3 months
Rent-stabilized tenants have the right to quality housing. Buildings with rent-stabilized apartments are losing their value. Why should you care?
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@nyc_chip
CHIP NYC
2 months
The math is clear. Renovations cost more than $100,000 in small apartments. NYCHA spends more than double that amount to renovate similarly sized apartments.
@nyc_chip
CHIP NYC
2 months
Reported Budget Deal Does Nothing For Struggling Rent-Stabilized Buildings Statement:
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@nyc_chip
CHIP NYC
1 year
The city's Rent Guidelines Board capped rent increases at 3 percent per year for new leases at rent-stabilized buildings. Meanwhile, owners' operating costs have risen by 8 percent. via @reason
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@nyc_chip
CHIP NYC
3 months
CHIP Condemns Misleading Comptroller Report on Vacant Rent-Stabilized Apartments:
@trdny
The Real Deal
3 months
A report by @NYCComptroller @bradlander finds landlords’ rent-stabilized vacancy claims are bunk
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@nyc_chip
CHIP NYC
1 year
Our @jaymart222 was on @InsideCityHall with @errollouis and a small property manager to discuss our vacancy plan, and the challenges of being a small property manager in NYC. Here is the link and some highlights (🧵)
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@nyc_chip
CHIP NYC
6 months
Draining out the city: Without our middle class, what is NYC? “A system that relied on city-enforced rent stabilization to keep apartments affordable ignored that this approach would balloon all other rents and skew incentives.” ( @NYDailyNews ⁩)
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@nyc_chip
CHIP NYC
7 months
Over the past two years we have shot video of more than 100 empty rent-stabilized apartments in New York City. Many of them appear to be in good condition. They look like they could be rented back out with a new coat of paint. But they can’t. And here’s why. This apartment…
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@nyc_chip
CHIP NYC
6 months
“NYC is in Trouble” —⁦ @adamrobertsnyc ⁩ for ⁦ @amNewYork ⁩ “CHIP believes that it is not too late to fix what has been broken … another year of inaction will make things worse. We need to start solving these difficult problems in 2024.”
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