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 … result rentstabilized rents The AMI for a single person in NYC is $108700 this year and that amount increases if you … in state income taxes Similarly the citys nowexpired 421a program provided city property tax breaks to developers …

By Celia Young |October 22, 2024 - 9:30AM
What is a working capital fund contribution for condos? Are these common in NYC?

… If youre looking to buy a condo in New York City youve probably experienced … capital fund contribution is an additional fee paid by the buyer at closing thats meant to help a condo building raise … estate development law firm Most buildings will ask new buyers to contribute one to two months of common charges to …

By Celia Young |October 9, 2023 - 1:30PM