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Posted by MikeW on March 08, 1999 at 15:27:56:

In Reply to: Re: Housing Court deals posted by Jean F on March 04, 1999 at 21:56:10:

I assume the apt is stabilized.

They can get more than just the $150/month vacancy increase. If they can show $14,000 in capital improvements to that apartment (which they can probably do by inflating the cost of a $5000 renovation), they can get the rent over $2000/month. Once they do this, they can get the apartment out of stabilization.

This would be worth a great deal to them. If you do want to move, you could probably hold out for a $10-15,000 buyout.

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• Re: More than just the $150/month Jean F 3/08/99 (0)

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Comments:
: I assume the apt is stabilized.

: They can get more than just the $150/month vacancy increase.  If they can show $14,000 in capital improvements to that apartment (which they can probably do by inflating the cost of a $5000 renovation), they can get the rent over $2000/month.  Once they do this, they can get the apartment out of stabilization.

: This would be worth a great deal to them.  If you do want to move, you could probably hold out for a $10-15,000 buyout.


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