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Report Says NYC Landlords Had Record Profits in 1999

Posted by Anna on April 12, 2001 at 12:57:20:

Report Says City Landlords Had Record Profits in 1999
Tenant groups say figures show that rent increases
are not needed this year.

Citywide, the average rent-stabilized apartment generated $778 a month in
revenue and incurred $464 in operating expenses in 1999, the study found.
The net income of $314 was up $13 from the previous year, and reached
the highest level since the board began following apartment finances in
1989. The study was drawn from records collected by tax officials from
more than 12,500 landlords.

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