![]() 'Say the bare minimum price for a 1BR in Manhattan is 500K - where in Manhattan? Crime-ridden above 96th Street or nice but too far from everything Inwood where else? You'd have only 100K left for maintenance fees etc. Ditto for Boston, Philadelpha, Baltimore, and Washington DC (last three wannabe never will be Bostons.) There's a whole wide world out there to have a life in.ītw assuming 1M per apartment, that's 600K after taxes, right? What will that buy you in Manhattan assuming you wanted to remain in Manhattan? Maybe a one-bedroom. Or it's just an endless parade of the rich and their plantation workers. who wants to live among them anyway?, the lower the rents, these people move away, the interesting people move back in. The more wealthy people who move here, the less culture there is, the less appealing it is to live here, the less people move here, or the only people who move here are those who bring zero culture to the city, so who cares i.e. that is certainly not the same as someone buying an apartment or house building with their own money. and the seller was the government not looking for a profit but to create affordagle housing. thw apartments were not paid for by the residents at whatever the current market rate was at the time. THE POINT IS that this was a subsidized program paid for by EVERYONE'S taxes. I DON'T KNOW HOW OLD YOU ARE OR IF YOU EVEN LIVE IN THE EAST VILLAGE, BUT IF I HAD CONTROL I WOULD MAKE SURE THAT YOU WERE FORCED OUT OF HERE. ANOTHER WISE PERSON, IF YOU DON'T LIKE (FILL IN THE BLANK: NOISE, RENT, GARBAGE, HIGH RENT. If you need 'affordable' housing move out of NYC. They were practically giving these places away. What is wrong with that? NOTHING BUT THEY DID NOT BUY THEIR HOMES, IN REALITY THE TAX PAYERS BOUGHT THEIR HOMES. People who bought homes in the 70s cashing in and moving to warmer cheaper locations. This is perfectly legal and these folks aren't responsible for NYC having 'affordable' housing. Its that simple.Īnon 3:36 These folks can do as they please. Rents are cheap and you don't have to provide 500 pages of documents and pay $5000 to get the keys. The average house in America (its west of the Hudson- you might have heard of it) sells for around $200k. I know people who bought apts near central park for less than 5k because nobody wanted them. What is wrong with that? NYC wasn't a desirable location in the 1970s. ![]() This is a common practice all over the Tri State area as well. If they want to sell and move to Florida they can or they can stay. You're only upset because YOU don't have one of these apartments. Village View, which opened in 1964, consists of seven buildings between First Avenue and Avenue A, from East Second Street to East Sixth Street.įunny how most of the commenters are upset. At least 51 percent of shareholders from a minimum of 617 apartments would have to vote to support the study." Village View's board of directors reportedly started holding informational meetings in June to discuss the possibility of converting to a private co-op.Īccording to The Villager: "The first step in the process would be to vote in favor of a feasibility study that would examine the consequences of leaving the program. It sounds as if all this is still in the exploration-only stage. They could also relinquish their shares by leaving and having their equity returned, or stay on as tenants in rent-regulated apartments. If the measure passes, shareholders could choose to deregulate their units and put them on the market. Withdrawing from the program would require a two-thirds vote by residents of at least 822 apartments. ![]() But some worry it would be shortsighted to cash in on their below-market-rate homes - and that privatizing could further erode the neighborhood’s affordability. The decision to withdraw would allow residents to sell their units for a huge profit. The residents/shareholders of Village View, the 1,200-plus-unit Mitchell-Lama co-op, "are now mulling whether to withdraw from the affordable housing program," according to an article in this week's issue of The Villager. ![]()
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