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Old 06-01-2015, 10:16 AM
 
10,140 posts, read 8,601,040 times
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To be replaced by around the same number of people, who, based on their ability to pay higher housing costs, will likely be better educated and employed. What's the problem with this?

And those struggling residents will end up being somewhere that's lower cost, where they can better afford to live.

Quote:
Originally Posted by 11KAP View Post
The city would probably lose at least 44% of its struggling residents.
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Old 06-01-2015, 10:25 AM
 
Location: USA
8,016 posts, read 9,149,047 times
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^ I didn't say if it was a problem; just stating what it most likely will do. My overall opinion of it all doesn't really matter, I don't think.
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Old 06-01-2015, 12:46 PM
 
Location: Manhattan
20,309 posts, read 26,770,523 times
Reputation: 9133
Quote:
Originally Posted by BugsyPal View Post
Have mentioned this before; an heiress to the Coca-Cola fortune who is one of the top RS brokers in NYC received a large payout for her RS apartment on Central Park South. The building was being emptied out so the developer can put up a large new tower.

That an heiress to such a vast fortune had a RS apartment overlooking CP is bad enough, but this woman by no means was "POOR" due to her career. Central Park South Holdouts Get Million-Dollar Buyouts - Rent Wars - Curbed NY

Again just goes to prove my point that RS tenants and their supporters are often after protecting their own interests. That a LL/property owner should have to pay > one million to get back an apartment from tenant who is worth more, much more than that shows how screwy the system works.
Wow, do I smell Bull**** here.

Akin to the "Welfare Queen" and "Joe The made-up Plumber."

Right wing fake nonsense, geared for the IQ impaired.
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Old 06-01-2015, 12:58 PM
 
Location: Brooklyn New York
15,284 posts, read 23,979,740 times
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Quote:
Originally Posted by Harlem resident View Post
Why ? I don't need it either but it is a kind of principle.

I always consider other opinions, though.
because I dont agree with all the rules it stands for.
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Old 06-01-2015, 08:35 PM
 
18,566 posts, read 12,003,517 times
Reputation: 12170
Quote:
Originally Posted by Kefir King View Post
Wow, do I smell Bull**** here.

Akin to the "Welfare Queen" and "Joe The made-up Plumber."

Right wing fake nonsense, geared for the IQ impaired.


Quote:
Originally Posted by Kefir King View Post
Wow, do I smell Bull**** here.

Akin to the "Welfare Queen" and "Joe The made-up Plumber."

Right wing fake nonsense, geared for the IQ impaired.
Only thing "impaired" about the above is your reading of the article.

All information was and is public information so can (and again was) easily verified at the time of publication. Leighton Candler *is* a high performing RE broker and also an heiress to the Coca-Cola fortune. Also equally she was able to "hold out" for a large settlement in return for surrendering her RS lease at 220 CPS. Sums paid and to whom are all on public record.

There can be no doubt Ms. Chandler used her knowledge and or contacts in the real estate market in developing her position. As with many other "wealthy" RS tenants Ms. Chandler also obviously used various tricks such as income shifting, trusts, and so forth to remain below high income triggers that would have removed her from RS protection.

The Leighton Candler Corporation - Companiesny.com

http://therealdeal.com/blog/2010/12/22/vornado-clarrett-buy-out-15-rent-stabilized-tenants-including-corcoran-s-leighton-candler-at-future-220-central-park-west-condo/

http://observer.com/2009/03/yes-she-candler-a-tale-of-recession-brokering/

http://streeteasy.com/profile/837699-leighton-candler


http://www.corcoran.com/nyc/Agents/Display/5760

http://www.businessinsider.com/2008/11/the-secrets-of-mega-broker-leighton-candler-s-success

http://ny.curbed.com/archives/2006/03/07/220_central_park_south_another_condo_casualty.php

Go on sticking up for the woman however; while you and the rest support her and persons like her to remain under RS they are laughing all the way to the bank and back. Most of them wouldn't even give you the time of day other than to perhaps order something from a menu or what they want done as you clean their house or houses.
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Old 06-02-2015, 12:16 PM
 
Location: Manhattan
20,309 posts, read 26,770,523 times
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There can be truth BUT to take a Coca Cola heiress and imply, as the article is meant to do, that in general rich people are the beneficiaries of rent stabilization is complete and utter twaddle.

Just like Joe the Plumber and The Welfare Queen.

I guess next will be Faye Dunaway's old rent stabilized apartment to imply that rent stabilization is for rich old actresses?
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Old 06-02-2015, 01:28 PM
 
Location: West Harlem
6,886 posts, read 7,906,417 times
Reputation: 3001
Quote:
Originally Posted by Kefir King View Post
There can be truth BUT to take a Coca Cola heiress and imply, as the article is meant to do, that in general rich people are the beneficiaries of rent stabilization is complete and utter twaddle.

Just like Joe the Plumber and The Welfare Queen.
Exactly - but I don't think that poster meant this. I had commented that, ironically and tragically, most of the big - that is to say, approaching fair - buy-outs I know about went to very wealthy people. This definitely has a lot to do with decent legal counsel, usually the privilege of people with money. An experienced lawyer makes all of the difference and is very much worth the investment if one is in the market for a buy-out agreement.

That isn't to say that many people in regulated units are wealthy, as is often claimed.
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Old 06-02-2015, 02:05 PM
DAS
 
2,530 posts, read 5,858,233 times
Reputation: 1086
Quote:
Originally Posted by Harlem resident View Post
Exactly - but I don't think that poster meant this. I had commented that, ironically and tragically, most of the big - that is to say, approaching fair - buy-outs I know about went to very wealthy people. This definitely has a lot to do with decent legal counsel, usually the privilege of people with money. An experienced lawyer makes all of the difference and is very much worth the investment if one is in the market for a buy-out agreement.

That isn't to say that many people in regulated units are wealthy, as is often claimed.
In addition, some poor people don't realize the value of certain amounts of money. They may think $10,000 or $40,000 is a lot of money. That along with the fact that many people in RS apts have not searched for an apt in many years and are not aware of the current rent rates. They don't realize that the amount of money offered won't last long.
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Old 06-02-2015, 02:47 PM
 
Location: West Harlem
6,886 posts, read 7,906,417 times
Reputation: 3001
Quote:
Originally Posted by DAS View Post
In addition, some poor people don't realize the value of certain amounts of money. They may think $10,000 or $40,000 is a lot of money. That along with the fact that many people in RS apts have not searched for an apt in many years and are not aware of the current rent rates. They don't realize that the amount of money offered won't last long.
I talk to people about this every day, with situations where I observe that the tenant is determined to take a buy-out anyway.
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Old 06-02-2015, 03:59 PM
 
18,566 posts, read 12,003,517 times
Reputation: 12170
Quote:
Originally Posted by Kefir King View Post
There can be truth BUT to take a Coca Cola heiress and imply, as the article is meant to do, that in general rich people are the beneficiaries of rent stabilization is complete and utter twaddle.

Just like Joe the Plumber and The Welfare Queen.

I guess next will be Faye Dunaway's old rent stabilized apartment to imply that rent stabilization is for rich old actresses?

Where did any of the above article "imply" that all RS tenants are "wealthy"? They merely pointed out the absurdity of someone worth millions or at least very well off receiving benefits supposedly geared towards "affordable housing".

People like you and others supporting RS fail to realize the arguments made in favour of those laws often fly in the face of what is actually contained within the statue.

With few exceptions RS laws do not speak to income, assets, wealth. The only time most RS tenants have had to present any sort of income for verification is when applying for a unit. Depending upon how long ago they moved in maybe not even the simple routine credit and employment check was done.

IIRC the "high income" decontrol limit is an apartment that rents for >$2.5K per month *and* income of $2K for two years. So if the RS rent is below said number a household can earn 2.5 million per year in theory and have nothing to worry about.

Faye Dunaway gave up her RS apartment after all the negative media pointed out the absurdity of that woman fighting to hold onto a busted tenement apartment in Yorkville. More so that she did not live in the unit and spent most of her time in CA. She could have gone to the mattresses on the matter but a long drawn out court battle would have required her to expose her private financials in court. At some point smart persons realize the humping they are getting isn't worth the humping they are getting.

Outside Manhattan and perhaps several other desirable neighborhoods none of this really matters. But you can find RS tenants on the UES, UWS, Tribeca, The Village and so forth who have done very well for themselves but yet cling onto RS units for dear life.
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