Why NYC Rent Is So High (It’s Not Airbnb)

Re:Why NYC Rent Is So High (It’s Not Airbnb) by rco8786 on Tuesday July 19, 2016 @01:52PM (#12123434)

"Let's take a pretty typical example"

posts a "this guy I know" anecdote

You can do better than that.

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Re:Why NYC Rent Is So High (It’s Not Airbnb) by tsaoutourpants on Tuesday July 19, 2016 @01:55PM (#12123473)

You can also look up the assessed value of any building in NYC. If you doubt the numbers, go and look: http://webapps.nyc.gov:8084/CICS/fin1/find001i

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Re:Why NYC Rent Is So High (It’s Not Airbnb) by mrgreenfur on Tuesday July 19, 2016 @02:17PM (#12123637)

Wow, this is awesome! I rent an apt in a brownstone. The brownstone up the street sold recently for $3.4MM. The documents you linked show the annual taxes at $8,700 = 12.5% * $67,000 (Billable assessed value). The document says the estimated value is just under $1,000,000.

$8,000/year doesn't seem outrageous for a $1mm property with rental income, especially given that it's estimated value is about 2/3rds under what it should be.

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Re:Why NYC Rent Is So High (It’s Not Airbnb) by vostok on Tuesday July 19, 2016 @01:59PM (#12123505)

I have edited my comment per your advice. The intent was to clarify that the property in question does not have any abatements in place.

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Re:Why NYC Rent Is So High (It’s Not Airbnb) by bradleyjg on Tuesday July 19, 2016 @02:15PM (#12123627)

Including the Cooperative and Condominium Tax Abatement? http://www1.nyc.gov/site/finance/benefits/landlords-coop-con...

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Re:Why NYC Rent Is So High (It’s Not Airbnb) by vostok on Tuesday July 19, 2016 @02:17PM (#12123635)

Yes.

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