clock menu more-arrow no yes

Filed under:

CurbedWire: Price Wars Edition

If it's Monday, it's gotta be CurbedWire. Brace yourself for a big week and drop some Wire our way, yes?

1) Kips Bay: A tipster tells us of a rumor circulating at the Kips Bay Towers residences (East 26-29th Streets on Second Ave.) regarding the Mitchell-Lama laws and pending eviction of tenants who lived there under that law the past 27 years: "As old tenants moved out, the building has renovated apartments, (and is currently redoing the facade, outdoor space, etc.) and bringing the apartments up to market value. The board has supposedly lost their last injunction and now tenants will have the option to vacate their apartments, or pay the 'new' rent rates imposed. Intersting to see what will happen." [CurbedWire Inbox]

2) Harlem: A curious reader asks, "Is the demand in Harlem as high as the real estate companies are saying they are? I would especially like to know about what people are willing to pay for a studio in the 130's area between 5th and Lenox. I don't want to spill the beans to which development I am talking about until I renegotiate my renewal. Currently, they are saying that the price is $1250(+) for a very nice place. This is an increase of 25%. Does a 20-25% increase in rent with a two year lease sound logical for Harlem? I have been here a year and I don't see the demand." [CurbedWire Inbox]