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| Re: I pay $564.97 a month rent. (1122186) | |||
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Re: I pay $564.97 a month rent. |
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Posted by GP38/R42 Chris on Thu Nov 7 11:19:00 2013, in response to Re: I pay $564.97 a month rent., posted by SMAZ on Thu Nov 7 09:17:54 2013. With some renovations, one can easily bring the asking rent from, say, $1800 to $2025 for an otherwise modest 1-bedroom in places such as Sunnyside, LIC and Greenpoint.Of course, but it's FAR from blanket. A neighborhoood like Ridgewood for example is a GOOD stable neighborhoood, but you stilll top out at abvout $1500 for market rent in many parts and types of apartments. FURTHERMORE, there are thousands (if not 10's of thousands) of apartments where rent stabilization STILL is only about $900 to $1000 on them. Even with vacancy allowances and spending upwards of about $50000 on an individual apartment to "get it to $2000" would STILL not enable you to rent it for $2000 in a neighborood where that type of apartment in PRISTINE new condition will only allow you at $1500 through MARKET forces. Someone would be foolish to spend that kind of an investment on an apartment just to get it out of "rent stabilization" when they couldn't rent it for more than market rate to begin with. |
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