Projects

RELIANCE REALTY

CASE STUDY

Transform Your Building into a High-Value Asset

Since the enactment of the Housing Stability and Tenant Protection Act of 2019, many NYC landlords have faced steep challenges navigating the transformed rent stabilization landscape and declining property values. While selling may seem like the easiest way out, partnering with Reliance Realty often yields far greater long-term rewards.

Our expert, hands-on management approach unlocks hidden value, stabilizes operations, and dramatically improves building performance. Whether you plan to hold for cash flow or prepare for a profitable future sale, we help you achieve your goals.

Turning Around a Troubled Portfolio

In April 2025, Reliance Realty assumed management of a distressed 5-building, 139-unit portfolio in Washington Heights. The properties had over 500 violations and were close to entering HPD’s Alternative Enforcement Program.

The situation was further complicated by:

• Active tenant association with legal counsel
• Widespread rent non-payment and court actions
• $15,000/month rent reduction orders

Our Solution:

• Collaborated with residents to build trust
• Cured all violations and restored compliance
• Recovered $15,000/month income
• Negotiated back rent with agencies
• Secured funding for repairs and compliance

The Result

The portfolio is now financially stable, code-compliant and generating strong returns. A high-risk liability became a thriving investment.