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Johnnadawearsglasses t1_ix0gxq7 wrote

I mean it has to be rent controlled. I can tell you that this building was truly awful until the past few years. There was a Chinese produce wholesaler who operated out of the bottom floor. Every morning at like 2-4 am there were dudes working on the sidewalk organizing produce and yelling at each other. When they left each day, produce had fallen all over, attracting only the most discriminating rats. The maintenance on the building appeared to be zero. I would walk by it most days and wonder why. That there must be rent controlled units in part of the building explains that to me now. Landlords are notorious for letting rent controlled and rent stabilized buildings rot.

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queensnyatty t1_ix0pjqp wrote

Geez who could have predicted that? If only there were a social science that studied this sort of thing.

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tonka737 t1_ix10ofj wrote

How long would it take to recoup the costs of renovating a rent controlled apartment when accounting for monthly expenses?

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