Cuomo Calls for Strengthening Rent Reg Laws
Governor Cuomo released the video above yesterday saying that if rent-regulation laws are allowed to expire next month, it would be a “crisis” for the state and that the laws need to be extended and strengthened. Cuomo says that “by current standards, it is estimated that over 130,000 more apartments could be lost to decontrol…
Governor Cuomo released the video above yesterday saying that if rent-regulation laws are allowed to expire next month, it would be a “crisis” for the state and that the laws need to be extended and strengthened. Cuomo says that “by current standards, it is estimated that over 130,000 more apartments could be lost to decontrol in the next few years.” City Room notes that the though the Assembly approved legislation last month that would extend rent regulations through 2016 and shift the luxury decontrol ceiling from $2,000 to $3,000 a month, “the issue has drawn little interest in the Senate.”
Cuomo Releases Message Urging Stronger Rent Laws [City Room]
By Jaguar on May 18, 2011 2:55 PM
Wow, DIBS, we agree.
LOL…even the What and i have agreed on occasion.
Yeah Jag, forget it. Check out 715 OP if interested. (hint, hint). Much nicer building and there is currently a 2 bedroom asking 250K but I think they’ll part with it for 220K or so (one bath though and prolly needs a reno but I am sure it’s in move-in condition).
Jaguar;
I don’t know what you mean by “expand”. It was a formulaic tax benefit for all takers. Bloomberg did nothing to change that formula. What changed is the demand for housing in NYC, and developers took advantage of it. If you have facts to the contrary, I would like to see it.
The reason I bought in Bed Stuy was twofold…I thought it had a lot of upside potential and it still does. Secondly, I could have bought in Brooklyn Heigts or Park Slope but I would have had to sell one of my other three properties to comfortably do so.
Also, and this will raise the ire of a few as well, RE taxes are just soooooo fucking cheap in Bed Stuy!!!!!! Don’t hate the player, hate the game.
They always talk about the rent protections for a million apartments (or whatever it is). Baloney.
Take your garden-variety Bronx, Brooklyn or Queens 6-story rental building with 50 units. Let’s say the market rents are $1,100 for a 1-bedroom, and $1,500 for a 2-bedroom. Well guess what? The vast majority of the tenants are paying between $1,000 and $1,100 for the 1-bedroom and $1,400 to $1,500 for the 2-bedroom. So I wouldn’t exactly call them “protected.” And only in New York do you have rents like $1,067.49.
And yes, there are five apartments with old ladies paying $650. I guess they still need protecting.
Benson, are you going to try to tell me that the Bloomberg administration didn’t dramatically expand that program during the first eight years of his majesty’s reign? I mean, hey, at least Donovan got a sweet federal job out of it.
Yeah, I know, the apartments are very nice and very big, but not $400k nice, right? The apt I saw was not 1500sf but it was over 1000. Maintenance also seems reasonable. But $400k? Come on.
Wow, DIBS, we agree. I can’t figure out why anybody would buy a place with a tax abatement and I really can’t figure out how they will be able to resell. Seems problematic.
I don’t really understand the correlation between not moving from a rent controlled apartment and bettering oneself. Not everybody is materialistic or feels they need to live in an expensive brownstone to prove to the world that they have bettered themselves. Maybe they like where they live, are happy there, and work in nonprofit or government jobs where they will never be rich but are able to work for the public interest because they can afford to with the help of rent control or rent stabilization? You know, not everybody has to sell out in order to be worthwhile members of society. Quite the opposite actually. But keep telling us all about how other people should be judged and they ways they can improve themselves that would satisfy you. Not to be mean, but I know people who would think buying a house in Bed Stuy was a step down . . . . Mind you, I don’t feel that way myself, but you must realize others do, right?