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

… want our apartment to be kept in good condition tenants of rent controlled or rent stabilized units in New York City … building MCIs also need to involve replacements rather than repairs For example a new boiler or a new roof qualifies as … term is being used to justify excessive and repeated rent increases that in many cases are just repairs … The nitty …

By Celia Young |September 11, 2024 - 10:30AM
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 rarity … that lease their sites from NYC and buildings such as Quay Tower in Brooklyn Heights Instead of paying property taxes individual …

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