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Lovely. I'm jealous. She pays less per month than I do on my 1 br condo
with mortgage fully paid. I don't know the rules of rent stabilization (nor fully know the difference between rent stabilization and rent control) but can you just take over the lease if you're a relative? It's that easy? And does a rent stabilized apt. ever reach market rate? I'm going to google because now I want to know.
Many New Yorkers dream about getting to live in a coveted rent-stabilized apartment — because it means that rent is often unfathomably cheaper than market value.
Such is the case for Hattie Kolp, a 29-year-old special education teacher and part-time interior designer.
When Kolp and her parents moved into the 1,500-square-foot two-bedroom apartment in 2002, they paid a little less than $1,000 a month. Thanks to rent stabilization laws that limit the amount that the landlord can increase the rent and that entitle tenants to get to renew their lease each year, Kolp took over the lease after her parents retired in 2018.
It varies building to building .. you can get all the stabilized apartments you want in our building . But they are at market at this point.
My wife is here 40 years and we pay only 200 bucks less than full market . That is no savings when you consider we are unrenovated and the market one is fully renovated.
Plus we pay 200 a month for a parking spot.
Over the years if the rent increases were voted lower they simply increased parking or raised the pool fees to join.
You have stabilized apartments going for many many thousands a month under some of the stabilization programs for newer construction since they are not bound by the 2700 max for stabilization
They are Damiens son. Terrible dysfunctional government enabled organization.
It's more than that. Unless you are Jewish there's almost no chance of getting into Mitchell Lama. They dominate the units.
A lot of the buildings especially in the Lower East Side have Saturday Sabbath elevators. This means the elevators stop on every floor from Friday night to Saturday night. Plus extended hours on Jewish holidays like Passover eg now.
Sure there are some token non Jews living in Mitchell Lama but the majority are going to be Jewish. Source: 25 years living in one of these buildings.
It's more than that. Unless you are Jewish there's almost no chance of getting into Mitchell Lama. They dominate the units.
A lot of the buildings especially in the Lower East Side have Saturday Sabbath elevators. This means the elevators stop on every floor from Friday night to Saturday night. Plus extended hours on Jewish holidays like Passover eg now.
Sure there are some token non Jews living in Mitchell Lama but the majority are going to be Jewish. Source: 25 years living in one of these buildings.
My M-L used to be mostly Jewish but they all left in the 1970s, and I doubt they're coming back. I have a feeling they were prolly all Jewish when they first opened.
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
I've seen the video of this apartment and honestly the layout is terrible and it would be a nightmare to air condition during the summer.
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