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Bricktionary
What exactly is the 'AMI' that's used to determine affordable housing rents?
… If youve ever entered New York Citys affordable housing lottery youve probably read one key term … income thresholds This year the 421a program was replaced by the new 485x tax incentive program which has a range of … units For example 60 percent of the incomerestricted apartments built under the citys 421a program between 2017 …
Understanding ‘succession rights,’ a complex issue for rent-regulated tenants
… an elderly family member living in that most coveted of New York City apartments the rentregulated unit When they vacate the … in and take over the lease But like most everything else in New York inheriting a rentstabilized or controlled apartment …
What are land-lease buildings? Are they common in NYC?
… on the Upper West and East sides as well as in Battery Park Brooklyn has a smattering too The reason behind this … that lease their sites from NYC and buildings such as Quay Tower in Brooklyn Heights Instead of paying property taxes … to vacate and would no longer have any ownership of their apartments According to Stone the landowner could extend …
