http://bloombergwatch.com/index.php/09/ny-times-gluckchetrit-offer-rent-stabilized-deals-to-tenants-in-new-development/ Above the rules? Above the People?! Fri, 10 Feb 2012 05:31:17 +0000 http://wordpress.org/?v=2.7.1 hourly 1 http://bloombergwatch.com/index.php/09/ny-times-gluckchetrit-offer-rent-stabilized-deals-to-tenants-in-new-development/comment-page-1/#comment-1006 jason Tue, 29 Sep 2009 22:29:22 +0000 http://bloombergwatch.com/?p=2087#comment-1006 I think you misunderstand NEW construction rent stabilization tax credits completely. They get tax credits ONLY if they DO NOT raise rents. So while they legally COULD, there property taxes woudl be jacked way up, and they would loose tax credits. This plan provides an "incentive" to keep rents low. So you analysis is totally flawed. I agree its a nonsense plan to reward people for creating apartments that are SO expensive (and I live in a similar new building myself with "voluntary" rent control",) but it would cost millions of dollars for them to raise rents a penny above the allowed amount so... I think you misunderstand NEW construction rent stabilization tax credits completely. They get tax credits ONLY if they DO NOT raise rents. So while they legally COULD, there property taxes woudl be jacked way up, and they would loose tax credits. This plan provides an “incentive” to keep rents low. So you analysis is totally flawed. I agree its a nonsense plan to reward people for creating apartments that are SO expensive (and I live in a similar new building myself with “voluntary” rent control”,) but it would cost millions of dollars for them to raise rents a penny above the allowed amount so…

]]> http://bloombergwatch.com/index.php/09/ny-times-gluckchetrit-offer-rent-stabilized-deals-to-tenants-in-new-development/comment-page-1/#comment-990 Columbus Square Offering Free Rent, $1,000 for Brokers : Westside Independent Mon, 28 Sep 2009 14:08:26 +0000 http://bloombergwatch.com/?p=2087#comment-990 [...] in the three free months. If tenants stay more than a year, it looks like they’ll be paying more than $5,000 for that two-bedroom! (photo via Columbus Square NYC) Post [...] [...] in the three free months. If tenants stay more than a year, it looks like they’ll be paying more than $5,000 for that two-bedroom! (photo via Columbus Square NYC) Post [...]

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