What is a 'major capital improvement' and how does it affect the rent?

… While you want our apartment to be kept in good condition tenants of rent controlled or rent stabilized units in New York City might not feel so …

By Celia Young |September 11, 2024 - 10:30AM
What are land-lease buildings? Are they common in NYC?

… The vast majority of residential buildings in New York City own the land they sit on but a tiny percentage rent the … Park that lease their sites from NYC and buildings such as Quay Tower in Brooklyn Heights Instead of paying property … to vacate and would no longer have any ownership of their apartments  According to Stone the landowner could extend …

By Evelyn Battaglia |December 4, 2023 - 12:30PM