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 … or AMI defines the median incomes for households of different sizes within a certain geography The Department of …

By Celia Young |October 22, 2024 - 9:30AM
What is a 'major capital improvement' and how does it affect the rent?

… not feel so happy when the see the phrase major capital improvements Thats the term used for upgrades that justify a … even in the middle of a lease The city defines an MCI as an improvement benefiting all the tenants in the building … … Efforts to tighten the definition of these kinds of improvements could come in 2019 In addition there could be …

By Celia Young |September 11, 2024 - 10:30AM
What’s the average flip tax for a condo or co-op in New York City?

… youre probably already familiar with the myriad fees that come with buying in New York City But theres one more cost you should …

By Celia Young |April 1, 2024 - 2:30PM