Episode 68: The Billion-Dollar Program Changing NYC Housing with Daniel M. Bernstein
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Episode 68: The Billion-Dollar Program Changing NYC Housing with Daniel M. Bernstein
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Seth Glasser sits down with Daniel M. Bernstein, Head of Tax Incentives and Affordable Housing at Rosenberg & Estis, for a deep dive into CityFHEPS, Section 8, and the growing role government rental subsidies are playing in New York City’s housing market.
Daniel explains how CityFHEPS has evolved from a smaller homelessness-prevention program into a billion-dollar-plus housing subsidy, why landlords and tenants have both increasingly relied on it, and how it compares to Section 8 from a funding, compliance, and practical ownership perspective.
Seth and Daniel also discuss the broader policy environment, including HSTPA, COPA, Mamdani’s housing proposals, enforcement risk, and the need for pragmatic public-private partnerships if New York City wants to preserve existing housing while getting vacant units back online.
For owners, operators, lenders, policymakers, and anyone trying to understand where affordable housing policy and multifamily economics collide, this episode offers a practical look at one of the most important issues shaping the NYC housing market today.
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Reach out to us at: seth.glasser@marcusmillichap.com