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Today in "key money"

Started by front_porch
9 months ago
Posts: 5316
Member since: Mar 2008
Discussion about
https://streeteasy.com/building/226-west-97-street-new_york/7b?utm_campaign=rental_listing&utm_medium=share&utm_source=web&lstt=UNZ_rwkYCr-OIon2tvFBD5dCILCGcG6GkrXb7lf5fXgCpG552t8x82KSINK5lRrhZSVwrG8-5Mx50ESx
Response by inonada
9 months ago
Posts: 7951
Member since: Oct 2008

One last hurrah before the law starts in June!

Is the LL allowed a cut of the key money, or is that illegal?

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Response by KeithBurkhardt
9 months ago
Posts: 2985
Member since: Aug 2008

The landlord is not allowed a cut of the brokerage commission.

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Response by inonada
9 months ago
Posts: 7951
Member since: Oct 2008

But nothing illegal about a broker doing one of the LL’s apts at 35% (happens to be rent stabilized) and another no-fee (happens to be free market)?

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Response by 300_mercer
9 months ago
Posts: 10569
Member since: Feb 2007

https://www.brickunderground.com/rent/realty-bites-broker-fee-limits-laws-rent-stabilized-apartments-nyc

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