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 over and over again area median income But what does that actually mean In short area median …

By Celia Young |October 22, 2024 - 9:30AM
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 a relatives regulated unitare dependent upon a complex set of rules  Those rules recently got a little …

By Celia Young |January 9, 2024 - 11:00AM
What are land-lease buildings? Are they common in NYC?

… Stone has also taught real estate classes on the subject for years  These buildings are mostly in Manhattan namely on the Upper West and East sides as well as in Battery Park Brooklyn has a smattering too The reason behind this … about 100 landlease coops and only a handful of landlease condos Thats because of the different ownership structures …

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