Stopping Big Rent Hikes at Ex-Mitchell-Lamas
The state has closed a loophole that allowed landlords to enact huge rent hikes upon exiting the Mitchell-Lama program. Under the loophole, owners of Mitchell-Lama rental buildings constructed before 1974 will no longer be able to raise rents to market rate by claiming that leaving the program amounts to a unique and peculiar circumstance. (Instead,…
The state has closed a loophole that allowed landlords to enact huge rent hikes upon exiting the Mitchell-Lama program. Under the loophole, owners of Mitchell-Lama rental buildings constructed before 1974 will no longer be able to raise rents to market rate by claiming that leaving the program amounts to a unique and peculiar circumstance. (Instead, the units will become rent-stabilized.) The new regulation comes as government programs like Mitchell-Lama subsidize fewer and fewer units in the city: Between 1990 and 2006, the city lost 27 percent, or 32,422, of its apartments in subsidy programs, according to data from the Community Service Society. Although the regulation may have an impact on many of Brooklyn’s Mitchell-Lama buildings, it won’t matter at its largest one. The present or future owners of Starrett City could bring rents at the 5,800-unit complex to market rate if they left Mitchell-Lama, since the development was completed in 1974.
Albany Bars Rent Rise for Thousands [NY Times]
Starrett City’s Owners Look to Leave Mitchell-Lama [Brownstoner]
Photo by West Side Neighborhood Alliance.
Not sure where it is confirmed this guy is an artist, but in any event, 4K for a 1 bedroom is market in Manhattan, but certainly not anywhere else. Not sure why people who obtain subsidies think there is some right to live in prime space.
they can live in public housing!
oh wait
SHIT!
Let’s see, we recently learned that a sizable majority of brownstoner.com viewers earn over 100K.
The 2006 median household income in the US was $48K. Just 19% of American households earn over 100K.
The most income data readily available online for Brooklyn is dated — 1999. But in that year, median household income was 32K.
So is it surprising or just predictable that posters on this website despise people who can’t afford more than $1,000 per month rent on an apartment and think they should all leave NYC and move elsewhere?
Do posters ever wonder who will clean their toilets and raise their children for them if all modestly compensated people leave the City?
yep, I was right — 9:20, who rents an apartment in a two-family.
hey, glad you guys are all smarter than the governor, DHCR Commissioner VanAmerongen and the state Court of Appeals.
the mortgage subsidy is no way near the value of a R/C or R/S subsidy…give it up
love how the only defense of these ridiculous housing policies is to bring the old “greedy developers” line…yawn
I just bought a speed boat for my contracting company.
WRITE OFF!!!!!
ita always funny until you get priced out and have to move to east orange.
What is problem with clearing up a loophole?
Why no hate for developers and their reduced rate mortgages they have been paying and reduced tax rates?
Why no hate for ‘subsidized’ home owners and all the tax deductions for mortgage interest and real estate tax- even in million dollar homes. And tax free capital gains?
What is their right for all those subsidies?
9:31 and 9:47 —
4k is a lot for a 1br
that’s why some of us live in neighborhoods where a 1br costs less than half that
and don’t believe that we’re entitled to government help to live in a more expensive neighborhood