Monday, January 26, 2015

The Myth about rent-stabilized Apartments

The myth that rent stabilized apartments are rare to find is really only a myth. Half of New York's housing stock goes to stabilized rentals. 
Another myth is that stabilized rentals are old and dilapidated. Not true either since new rent-stabilized apartments are being built. These are affordable units in new developments that go into rent stabilized programs even if the rent is over $2500/month.

Also, hundreds of renovated buildings across the city are rent stabilized because their owners received a J51 abatement - a tax break that landlords get for significantly improving their building. Thanks to a far reaching court decision in 2009...

Read more...http://bit.ly/1Jmq8e1