House of the Day: 227 Berkeley Place
We were wondering why the price tag on this Berkeley Place house was only $2,799,000. Then we got to the part in the description about the single rent controlled stabilized tenant in a studio on the top floor. Losing the half-floor of space is less of a bummer than the fact that you have to…
We were wondering why the price tag on this Berkeley Place house was only $2,799,000. Then we got to the part in the description about the single rent controlled stabilized tenant in a studio on the top floor. Losing the half-floor of space is less of a bummer than the fact that you have to keep the entire stairwell public. Then again, that’s why this place (which has some pretty kick-ass plaster and woodwork) isn’t priced in the mid-threes. It’s a tricky situation though: Most folks with $2.8 million to spend don’t want to be bothered with this kind of thing. Clearly the tenant doesn’t want to bought out or the current owners would have done so before putting the house on the market.
277 Berkeley Place [Corcoran] GMAP P*Shark
Photo by Kate Leonova for Property Shark
12:21pm, people refer to Eryximachus as a 6-figure hipster because he often posts on this blog site and has stated before he makes 6 figures and has provided details about himself.
I’m generally against rent stabilization, but: homeowners have a legal mechanism in place to protect them from sudden inflation too–the cap on property tax increases. If you support getting rid of rent stabilization, you should also support having your property tax raised immediately to reflect the assessed value. Fair’s fair.
I don’t know that people here have a problem with RS apartments in general. It’s about how much to pay for this house that contains RS apartments. These houses are huge investments; it’s a valid concern. It’s strange that what is a private home can have a RS apartment in it, IMO. Most cities put such apartments only in large developments.
My husband and I rent a two bedroom apartment in the East Village. We live in a 100 year old tenament buiding that houses a mix of RC, RS and “market rate” apartments. We pay market rate.
One argument for rent stabilization is that without it landlords can raise rents as much as they want from year to year. Our rent just skyrocketed $700.00 a month, which were given 15 days notice to accept or get out. Our friends across the city have seen their rents increase by $500.00+ as well. What happens to people who can’t afford such a large and unexpected monthly dent in their budget? We’re lucky, we could afford to stay if we had to, but we’re able to buy so we’re getting out.
RC and RS apartments keep neighborhoods diverse and protect people who need a little extra help from being displaced. The RC and RS tenants in our building are wonderful, courteous people who typically have the tidiest apartments, they watch over common spaces and ride the shady landlord to fix the problems in our building.
Most of the market rate tenants come and go. We’ve seen the apartment across the hall turn over four times in three years. Many of them don’t seem to care about the building or the neighborhood, they leave their trash in the hallways, throw loud parties and expect somebody else to make a call when there is a serious problem in the building.
Some of the comments in this thread are just appalling and so representative of the Monopoly money mindset in the NYC real estate market. NYC is going to be great when it’s all rich people and chain stores as far as the eye can see!
Please, most RS buildings have been owned by the same people for years and are either paid for or at least did not cost the millions they would go for now. The landlords are making, not losing money.
Also – while we talk about subsidies – why is it no one brings up the fact that NYC property taxes are extremely low compared to the surrounding areas.
So all you crazy home owners are getting a break to.
please. this broker is one of the best in the industry and clearly the go to park slope townhouse broker
This house is just overpriced.
please. this broker is one of the best in the industry and clearly the go to park slope townhouse broker
This house is just overpriced.
Preservationista, you stereotype as much as Eryximachus. Not all young people are six-figure hipsters, any more than all rent-subsidized tenants are rich deadbeats. Why are they less deserving of sympathy than the 80-year-old pensioner who benefited from rent protections as an old man, a middle-aged man and a young man–a cumulative lifetime benefit, most likely, of hundreds of thousands, which these younger people are unlikely ever to get?
Sorry,
I do think rent control is evil. I have thought so for years. It is detrimental on several different levels.