What exactly is the 'AMI' that's used to determine affordable housing rents?

… 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 income or AMI defines the median incomes … apartments built under the citys 421a program between 2017 and 2020 were reserved for families making 130 …

By Celia Young |October 22, 2024 - 9:30AM
What are land-lease buildings? Are they common in NYC?

… York City own the land they sit on but a tiny percentage rent the land from someone else These are called landlease … yet another quirk of NYC real estate that buyers need to be aware of  In a lot of ways a land lease is just like … leases  Quay agrees saying he works with buyers as they see how the deal is set up through the offering plan and the …

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