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Hey all. Has anyone used that huge PDF published by the city that lists all rent stabilized buildings? It has 14 thousand buildings listed, so heh, not the easiest thing to work with.
I've tried to look up a few buildings and am finding that either the list is not accurate (even though it was updated in 2014) or the management offices don't always tell the truth.
Example: 229 Chrystie Street (the building adjacent to Whole Foods on Houston St). The City clearly lists this building as rent stabilized, without any special disclosures, such as "Co-op/condo non-evict" etc, but the leasing agent claims they are not a rent stabilized building. I pressed her and asked if there were any stabilized units in the building remaining, and she said no. How do you explain that?
^^^ Not necessarily the case. In older buildings, yes, but in new buildings that have gotten certain tax breaks, there are rent-stabilized units that are way over $2,500. And older building also could have gotten the tax break, and those apartments are stabilized also.
Google the address and see if it's an 80/20 building.
HERE IS THE DEAL . only 72 apartments were available for lower incomes . they may be gone .
229 Chrystie St., will house 361 rental apartments and a 75,000 square foot Whole Foods Market. It is located on the entire south side of East Houston Street between Chrystie Street and the Bowery. The New York State Common Retirement Fund invested $25 million and has an 80% ownership, and the remaining 20% is owned by AvalonBay. The New York State Housing Finance Agency provided $117 million in debt financing for the building under the 80/20 program. A total of 72 apartment units are available to households with income at or below 40% and 50% of the area median income, based upon the family size. A family of two with a total annual income of $19,275 to $31,400 will have a monthly rent range from $514 to $656. The market rent for a two-bedroom unit will be approximately $4,500.
BUT if the tax break has been used, as it has been for this particular building, even the high-income apartments in the building should be rent-stabilized. Of course they're not cheap, but they are rent stabilized. So residents in those units are protected from unpredictable increases.
If you qualify for the low-income units or if you're close to it, contact the building to see if you can go on the waiting list.
Thanks. I'm not qualified, but I would love to get something below market price in a great building and be protected from crazy increases. The search continues.
BUT if the tax break has been used, as it has been for this particular building, even the high-income apartments in the building should be rent-stabilized. Of course they're not cheap, but they are rent stabilized. So residents in those units are protected from unpredictable increases.
If you qualify for the low-income units or if you're close to it, contact the building to see if you can go on the waiting list.
i don't think they are stabilized once they are off the tax breaks as a rule . i think each building negotiates a different deal but i really don't know for sure . i have zero experience with 80/20 stuff .
.
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