Apartment hunting in NYC? Supply of open units hasn't been this bad since the 1960s (Albany: 2014, rental)
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I reinstated him just now. Other Mods were having an issue with him.
That's an OG call. You saved mathjak107 the same way OG Bobby Johnson saved his friend from the Aryan Nation while they were in prison in "South Central" . Now he's your responsibility.
That's an OG call. You saved mathjak107 the same way OG Bobby Johnson saved his friend from the Aryan Nation while they were in prison in "South Central" . Now he's your responsibility.
Hilarious
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
13% percent of Staten Island apartments under $2,000
By 2025 low income renters will be officially price out of Manhattan unless you have section 8 and within 5 years The Bronx will be unaffordable numbers drop to 20% for apartments under $2,000. If want live in prime areas in NYC you need to make atleast $125,000 or more if not you having roommates.
Excellent Post.
I can not blame property owners for warehousing rental units due to laws favoring tenants.
If the city provided more owner protection I can bet a percentage of rentals becoming quickly available.
the problem is that thousands of vacant apartments need to be renovated to be rerented …
the changes in tenant laws now restrict how much a landlord can recover for capital improvements as well as how much rents can be raised when rerented .
so many are cheaper to leave vacant then bring up to standards for rental depending how many are involved.
the more laws that favor tenants and not land lord situations the more investors and developers will leave the rental business reducing supply .
no different then when someone cuts your pay and you have skills you look elsewhere
the problem is that thousands of vacant apartments need to be renovated to be rerented …
the changes in tenant laws now restrict how much a landlord can recover for capital improvements as well as how much rents can be raised when rerented .
so many are cheaper to leave vacant then bring up to standards for rental depending how many are involved.
the more laws that favor tenants and not land lord situations the more investors and developers will leave the rental business reducing supply .
no different then when someone cuts your pay and you have skills you look elsewhere
The other problem is that the life systems in these buildings are past their shelf-lives
Plumbing and heating systems ideally should be replaced every 20 years, 30 is pushing it
It's hard to replace plumbing risers and roughing in an occupied apartment
The housing is outdated and archaic
For example, when there's a gas leak in an apartment building, the entire line has to be shut down for months
And everybody wonders why there was a push to electric stoves and heating
Soon they will figure out a way for the apartment to get water without risers
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
some of it is ..but there are lots of buildings well maintained . ours is very well maintained .
some stabilized apartments are in top notch coop buildings where anyone of us would live
in fact there are some i would love to live in but way over budget .
If I had to make a guess, I would say 30% of the residential multiple dwellings in this city are as well maintained as yours, and the other 70% are not
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
If most buildings in the city were as well maintained as yours, rents would reflect that (be much higher) so that's my hypothesis, the 30% figure
Does your building have any open DOB or HPD violations? My guess is no
nothing open i know of .
a lot of owners got fooled though because they were dumping in a lot of capital improvements over the years and i am sure our building fell in that category with pool and tennis courts , and trying to get the rents closer to destabilizing .
but now they stopped the ability with the new rent laws to destabilize when rents hit a certain amount.
so the end game got wrecked so to speak
that’s a big deal
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