Duke & Duke Commodities Brokers

@griddr @notchrisvolpe @LeaveHeardAlone @brsgr4049 Not only unprofitable but in many cases the laws made it less of a loss for the units to sit rather than keep them on the market. That issue was “addressed” by allowing LLs to recoup slightly more of their new investment. That warehoused number keeps growing.

@notchrisvolpe @LeaveHeardAlone @brsgr4049 Oh, wow, an article from 2022 about how dumb rent stabilized unit protections made it unprofitable to turnover a unit between tenants so landlords didn't bother. It's 2026 now. That issue was addressed. And vacancy rates round to 0%.

The housing crisis in NYC will never be solved by building more luxury condos and anyone who claims otherwise is either lying to you or uninformed.

@LeaveHeardAlone @notchrisvolpe @brsgr4049 Vacancy tax is unconstitutional in addition to being bad policy that discourages needed construction.

@notchrisvolpe @brsgr4049 Vacancy tax is a great idea — I don’t think people understand that landlords will often just let apartments sit empty instead of lowering the rent to something affordable

@Barapasaurus @ZShee09 @PalmerLuckey @KennyBurgosNY Also there hasn’t been a profit on this unit for years if not decades.

@ZShee09 @PalmerLuckey @KennyBurgosNY Landlord had to feed his family, pay his mortgage, send his kids to college etc etc too… the purpose of making a net profit is not to save all of it up for when the apartment needs a renovation.

These are so frustrating to receive. A building owner sent me this video of a 2BR Upper West Side apartment he just got back, but after he empties it out it will stay vacant going forward. The tenant lived here since 1985 and the current legal rent is $940.01 Because of the 2019 HSTPA law, a building owner is expected to fully renovate this unit to current building code (that’s a good thing), but also expected to lose money in perpetuity at the same time. This 2BD would need well over $100,000 to clean out the debris, comply with lead laws, upgrade major systems, remove the Sheetrock + much more just to make this into an apartment a tenant would actually want to live in with dignity. But the law says the $940 rent would still end up below the estimated $1300/mo it costs to operate the apt which covers insurance, property taxes, labor, fuel, and capital expenditures for the building. So if the new rent falls below the operating cost, the owner would still lose money every month and never see $1 back from the $100k+ renovation. Why would the state expect anyone to lose money like this? What bank would ever provide a loan with no path to repayment? Why do we acknowledge the cost to build housing but ignore what it takes to preserve older housing? Why do we accept this policy when thousands of New Yorkers are searching for housing in the midst of the worst supply crunch we’ve ever seen? So frustrating.

@realtartsauce @jaymart222 Vacancy control means the unit will sit vacant indefinitely after his death, helping nobody except the owners of market rate units who use that leverage from a worsened shortage to push rents higher and higher. It’s bad that someone is unconstitutionally forced to rent it.

@DukeandDukeCB @jaymart222 Vacancy control allowed a senior to stay in his apartment (that he lived in for half a century) until he died? The point I’m getting from this is that apparently it’s bad that someone can’t kick your near death grandmother to the streets just because they bought the building.

Vacancy Control. Tenant died in February 2025; it took a year in housing court to gain possession. The renter occupied the unit for 46 years. He owed $19,957.41 on a rent of $1,234.87 at the time of death. Operating cost is $1,380, so it “makes” -$146 every month before renovation costs. The rent cannot be changed on vacsncy and tbe Rent Guidlines Board does not keep up with cost. There is no mechanism to cover the costs of the full gut renovation needed for the next renter, nor will a bank extend a loan to do the work to cover the costs with a rent that can never pay it back. As a result, the unit will stay empty. This is your city on vacancy control.

@JefBooth @jaymart222 Do you not understand that when their competitors leave the market, market landlords have greater leverage for higher rents?

@DukeandDukeCB @jaymart222 try a post that makes sense

@JefBooth Sounds like you don’t understand either.

@DukeandDukeCB you take her explaining how it works as not understanding? ok idiot

How is it that a US Senator doesn’t understand how Social Security is supposed to work?

@UKPlanB @jaymart222 @nycHealthy @NYCHousing 1. We don’t have a basis to say that, and regardless, the operating costs alone exceed the rent. So there’s not enough money coming in to cover such things. 2. Tenants pay some, not all, utilities.

@DukeandDukeCB @jaymart222 @nycHealthy @NYCHousing That building has been paid off its original price many times over. Tenants pay utilities, pay rent. What does the owner pay? Not repairs!

@MyHaploidHeart @ONEBIGMONSTER_ @jaymart222 No. It isn’t.

@DukeandDukeCB @ONEBIGMONSTER_ @jaymart222 Skill issue

@MyHaploidHeart @ONEBIGMONSTER_ @jaymart222 1. I’m no landlord. 2. When the revenue isn’t even allowed to cover operating costs, there’s no profit.

@DukeandDukeCB @ONEBIGMONSTER_ @jaymart222 Says the guy who cant turn a profit renting loooooool

@MyHaploidHeart @ONEBIGMONSTER_ @jaymart222 Has nothing to do with being good or bad in business.

@DukeandDukeCB @ONEBIGMONSTER_ @jaymart222 By not being a dhitty businessman. Maybe bro should become a cop. I heard any fucking idiot can do that job

@976noodles @jaymart222 That may be what will happen instead of people investing in NYC housing. And the shortage will worsen. And rents will rise.

@jaymart222 Sounds like you should’ve invested in index funds

@ho_chi_minge @jaymart222 These units leaving the market worsens the housing shortage which means higher rents.

@jaymart222 Sounds like you took a risk and lost money, why should I care?

@spIashmaster @jaymart222 The individual who was taking more than they were giving already died or did you miss that in the post?

@jaymart222 as a member of the parasite class its in everyone's best interest if you hopped off a bridge

@bathr00m_joke @jaymart222 Did you miss the part where the unit will just sit?

@jaymart222 well get in there and start cleaning, dickhead. It's not like you have a real job anyway

@Moth_Buckaroo @jaymart222 The rent stabilization law forces landlords to keep offering lease renewals at tenants’ sole discretion and if there’s any rent increase allowed, it almost always doesn’t keep pace with inflation let alone cost growth. Expensive to operate in NYC.

@jaymart222 Why would you do this at a loss? Are you homeless now? How is operating cost 1,380?

@josephtamas @jaymart222 NYC passes a LOT of codes in 46 years. They now have to be complied with before the unit can be rented again.

@jaymart222 Why is a full gut needed and not a clean up, repair and new paint ?

@heaven_toniight @jaymart222 Guess you missed the point. Policy makes this unit sit indefinitely vacant. That worsens the shortage. A worsened shortage means higher rents for what’s available. But I guess as a market rate landlord, you like that.

@jaymart222 get a real job loser OMFG like do you actively hear yourself? sorry someone croaked before they could pay your parasetic ass i hope hes laughing at you wherever we go

@JBNotSmoove @jaymart222 He has one. You should try it.

@jaymart222 Get a real job, parasite.

@arvofart Walk around. Talk to people.

@DukeandDukeCB What do you do for work?

@arvofart No.

@DukeandDukeCB Name one specific thing you do for work