Braverman Greenspun partner Benjamin Flavin was recently quoted in Law360 and Realtor.com on New York City’s new insurance program for affordable housing operators, which is aimed at easing operating costs.
Ben told Law360 that the proposed insurance initiative is “a good start but only a drop in the bucket,” noting that broader structural challenges remain. He explained that rent regulation continues to limit landlords’ ability to address increasing expenses, including major capital repairs, and suggested the program may ultimately benefit insurers more than property owners.
Sharing his perspective with Realtor.com, Ben noted, “Premiums aren’t becoming lower. They’re just being subsidized. And subsidy is political. It doesn’t necessarily address a long-term problem.” He also pointed to the difficult financial decisions landlords face, including whether to invest in repairs or leave units vacant when costs outweigh potential returns.
Read the Law360 article here and the Realtor.com article here.