Rent Happiness
You might have heard about the court case involving Tishman Speyer and Stuyvesant Town, whereby they were found guilty of illegally deregulating apartments (because they were taking J-51 tax breaks for capital improvements). There has long been a question of what this would mean in practice, and it's finally coming to a resolution: rents have gone down; in my case, rent went down by just over $800. Yay! :-) (Funnily enough, because we started renting at the height of the bubble, the rent stabilized rate is not that different from what we would have been paying had we signed about a year later.) Also, our apartment will be re-stabilized, meaning that there are caps on how much rent can change every year, and under what circumstances they can force us out, etc.
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Posted on 12/22/09 at 10:05:23 by dchaley (David Haley)
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