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 … units For example 60 percent of the incomerestricted apartments built under the citys 421a program between 2017 …

By Celia Young |October 22, 2024 - 9:30AM
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 rarity … from the property without having to take a tax hit from the sale of the property Sanders says Due to the unusual nature …

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