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jay5627 t1_jcg1m2a wrote

Reply to comment by ejpusa in Nearly 1,500 buildings ban Airbnb and other short-term rentals by fluffykintail

People throw out large numbers to make a point, but a sizeable amount of those units are in really bad shape, and financially not worth it for the owner to fix since they won't be able to recoup the costs because of the rent control/stabilization laws.

People freak out about a lot of things, doesn't make them right. I do think we're mostly aligned, though.

Current market, if it's a walk up, no doorman, around $2500. With amenities, I'd say $3500

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sketchingthebook t1_jcizg2l wrote

Honest question from a setting where I cannot easily Google: don’t landlords have some leeway to un-stabilize a vacant apartment?

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jay5627 t1_jckbqkn wrote

high rent and high income used to be two big ways they would become unregulated, which is no longer a possibility after the changes in 2019. 421-A abatements would have to expire, or owners would have to combine units to deregulate them. I believe they can also put a lot of money into renovations and then raise the rent a % of the money they put into the reno

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ejpusa t1_jcg2thv wrote

I agree, but there are MANY people posting away about real estate that think anything over $700 is INSANITY! And are you on meds?

New Yorkers love to fight about real estate. We’ve been doing it 1640.

;-)

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