3 ms·
My family has had the same apartment in Queens since 1916. It'll go to my brother at some point in the future. An outlier for sure but plenty of the people I gr
by PLenz 8y ago
My family has had the same apartment in Queens since 1916. It'll go to my brother at some point in the future. An outlier for sure but plenty of the people I grew up with were in multi generational apartments and expected to be the next generation to take it over.
- koolba 8y agoHow much is the rent/size vs a market rate?
- asnyder 8y agoI can answer this based on my parents example. They've lived in the same building since I was born and the same now rent-stabilized (previously rent-controlled) apartment in Brooklyn for the last 26 or so years. They live in a 3 large bedroom, one gigantic living room, kitchen, dining area and front lobby. Over the years the rent has increased to the now $1050.00, if however they were to move out (not passing the apartment to any children) it's likely that apartment would rent for around $3000+ considering the neighborhood and area.
- alistairSH 8y agoWow. That's less than half the rate for a 500sqft one-bed in a nice part of DC. I hadn't realize the stabilized rent units were so out of whack with the market.
- busterarm 8y agoWhat mechanism brought your rent-controlled apartment to rent-stabilized? We've been a rent-controlled 1br apartment since 1969 (lucky...) and the rent is around $1500. Also that rent-stabilized apartment doesn't go to market rate just because they move out. Depending on how much of the building is rent stabilized, it would likely stay rent-stabilized until the rent threshold crossed ~$2700. A rent-controlled apartment would become rent-stabilized.