A warning about Local Law 97, higher limits for conforming loans, & more

By Jennifer White Karp | January 27, 2023 - 4:30PM

This week readers checked out a new report from the Real Estate Board of New York on compliance with New York City's Local Law 97, which limits harmful emissions from buildings. REBNY says that thousands of properties will likely fail to comply, even if they make significant investments to improve energy efficiency, and wants to see tax abatement and incentive programs implemented.

Also of interest: Thanks to new, higher limits for loans backed by Fannie Mae and Freddie Mac, NYC borrowers can avoid pricier jumbo loans.

Here are this week's top five posts:

1) REBNY warns 3,700 buildings could face over $200 million in Local Law 97 fines next year

2) With new conforming loan limits above $1 million, NYC buyers can stretch their dollars

3) An affordable housing lottery opens for 57 apartments for seniors in Sunset Park, Brooklyn

4) Here are 5 design trends for NYC apartment and townhouse renovations that will be big in 2023

5) Brooklyn dominates the top 10 NYC neighborhoods for sellers

Jennifer White Karp

Managing Editor

Jennifer steers Brick Underground’s editorial coverage of New York City residential real estate and writes articles on market trends and strategies for buyers, sellers, and renters. Jennifer’s 15-year career in New York City real estate journalism includes stints as a writer and editor at The Real Deal and its spinoff publication, Luxury Listings NYC.

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