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12 East 12th Street - Unit #11
Started by DowntownNYC101
over 2 years ago
Posts: 0
Member since: Jun 2023
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Downtown, How long do you think before you can get the rent-stabilized tenant out and what is the NPV of your cash-flow during that period including interest payments, admin and upkeep/maintenance?
Go for it. CHIP is about to get Rent Stabilization declared unconstitutional by the Supreme Court.
It's highly unlikely that the tenant kitted out the unit with the finishes of #6 or #10, so if that's your benchmark adjust your finances to include full renovation costs as well (probably all the way down to the frame of the building, +electric, +plumbing, +windows, etc.).
>Go for it. CHIP is about to get Rent Stabilization declared unconstitutional by the Supreme Court.
Amazing. Is this for real?
Ha, Crain's NY did an article about it not that long ago (paywall): https://www.crainsnewyork.com/residential-real-estate/4m-greenwich-village-condo-has-rent-stabilized-tenant-who-can-stay-forever
Here's a nifty link that gets you past a lot of paywalls -
https://archive.ph/
https://archive.li/K7pK3