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

… to households who make up to 90 percent of AMI in exchange for investors receiving a reduction in state income … program provided city property tax breaks to developers in exchange for setting aside rentstabilized units for renters … that developers can often secure lucrative tax breaks in exchange for some still highpriced units For example 60 …

By Celia Young |October 22, 2024 - 9:30AM
What’s the average flip tax for a condo or co-op in New York City?

… you should watch out for when you sell a flip tax if you live in a coop or a transfer fee if you live in a condo … selling the units to make a quick profit  Today they are mostly used to raise revenue for coop buildings instead of … version of this article was published in October of 2018 We are presenting it again with updated information for …

By Celia Young |April 1, 2024 - 2:30PM
Understanding ‘succession rights,’ a complex issue for rent-regulated tenants

… tenant If you are 62 years old or older or if you have a disability youre only required to cohabitate with the …

By Celia Young |January 9, 2024 - 11:00AM