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Re: Rent Stabilized Sublet in Co-op? : Welcome to Hell

Posted by MikeW on September 09, 1997 at 14:39:14:

In Reply to: Rent Stabilized Sublet in Co-op? : Welcome to Hell posted by Peter Erni on September 09, 1997 at 01:54:44:

Buy the apartment.

It sounds like you've been there at least 5 years, so you must like the apartment (your not regulated, you have no reason to stay their if you don't like it.) Since you not regulated, your easily paying the landlord's mortgage and maintenance. Why not pay your own mortgage and build some equity. Renting, especially at market rates, should be a short term thing. If your going to be in an apartment long term, you might as well own it.

You could also try to find a regulated rental. In Manhattan (I am assuming that's where you live) that will be tough. If anything better than a small studio comes up, the landlord will MCI it over $2000, and get it out of regulation.

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