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A rent surge for unregulated apartments is already shaping the 2022 race for governor — and causing tenants pain in the here and now.
Aneta Molenda, 30, was glad to score a $2,550-a-month two-bedroom apartment in Bedford-Stuyvesant, Brooklyn, last winter, after a roommate moved out of their previous place during the pandemic exodus from New York City.
Rents plunged as tenants fled, and Molenda swooped in to take advantage and finally get a place of her own. She was even able to bargain the rent down from $2,800.
A year and effective COVID vaccines have reversed her good fortune. With her lease set to expire at the end of this month, Molenda received an email from new owners of the building — a private equity firm that recently bought the six-unit walk-up, along with several other Brooklyn buildings.
The message advised Molenda that the apartment upstairs similar to hers had just rented for $3,778 a month, and asked what she thought of that.
“I was completely shocked. This apartment is tiny and is nowhere by any stretch of the imagination worth $3,800. I was just completely, completely shocked,” Molenda told THE CITY. “I’ve been hearing that the market is bouncing up and rents are going up again, and people are moving back to the city. But I was not expecting anything close to this.”
She responded that she could only afford a 3% hike, to about $2,600 — and hasn’t heard back in the roughly two weeks since.
A rent surge for unregulated apartments is already shaping the 2022 race for governor — and causing tenants pain in the here and now.
Aneta Molenda, 30, was glad to score a $2,550-a-month two-bedroom apartment in Bedford-Stuyvesant, Brooklyn, last winter, after a roommate moved out of their previous place during the pandemic exodus from New York City.
Rents plunged as tenants fled, and Molenda swooped in to take advantage and finally get a place of her own. She was even able to bargain the rent down from $2,800.
A year and effective COVID vaccines have reversed her good fortune. With her lease set to expire at the end of this month, Molenda received an email from new owners of the building — a private equity firm that recently bought the six-unit walk-up, along with several other Brooklyn buildings.
The message advised Molenda that the apartment upstairs similar to hers had just rented for $3,778 a month, and asked what she thought of that.
“I was completely shocked. This apartment is tiny and is nowhere by any stretch of the imagination worth $3,800. I was just completely, completely shocked,” Molenda told THE CITY. “I’ve been hearing that the market is bouncing up and rents are going up again, and people are moving back to the city. But I was not expecting anything close to this.”
She responded that she could only afford a 3% hike, to about $2,600 — and hasn’t heard back in the roughly two weeks since.
If you don't like what's on offer, then pack up and move, darn silly woman.
If you don't like what's on offer, then pack up and move, darn silly woman.
Yes, but the hike from 2600 to 3800 is straightpipe gouge-o-rama. The new landlords buy a building at a premium, or not, and jack the rents to greedy new heights. Bravo. Winners and losers aren’t enough, it’s got to be big winners and big losers.
Yes, but the hike from 2600 to 3800 is straightpipe gouge-o-rama. The new landlords buy a building at a premium, or not, and jack the rents to greedy new heights. Bravo. Winners and losers aren’t enough, it’s got to be big winners and big losers.
She was able to get the apt at a low rate, due to the "special" pandemic pricing, but now that things have stabilized and the building is under new ownership, she will have to pay market rate when it's time for her to renew her lease or vacate.
Renting long term, is generally not a good idea, unless you are in a rent stabilized unit. There are a number of middle income apts. in "luxury" buildings throughout the city, but there are various application deadlines...
Yes, but the hike from 2600 to 3800 is straightpipe gouge-o-rama. The new landlords buy a building at a premium, or not, and jack the rents to greedy new heights. Bravo. Winners and losers aren’t enough, it’s got to be big winners and big losers.
It's called market rate for a reason. If LL feels he or she can get that money why would they leave something on the table?
Again if someone cannot meet that number, there's the door.
You don't want to be "gouged"? Buy your own home, problem solved.
I understand tenants economic pain but ultimately they are living in someone else's property. In NYC maintaining a residential property is not cheap and those costs, including ever increasing NYC property taxes, have to be passed on to the tenants. Under the US Constitution property rights are guaranteed which is why I think that the NYS rent moratorium and even NYS/NYC rent regulation laws will be tossed by the SCOTUS one day. I have no idea what the solution to this problem is.
“Good Cause” eviction is just another backdoor way of forcing private property owners to give up the right to choose who they can rent to.
What idiot is paying $2800/month to live in Bed Stuy to begin with?
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