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Sellers of existing apartments, meanwhile, are also adjusting their behavior.
We've also been a fairly active seller of existing apartments because of high demand from institutional investors.
Currently occupied by migrant workers, the area has seen increased densification through constructed additions to existing low-rise buildings, which often block natural light entirely to existing apartments.
Over the next 30 years, half of the existing apartments will be demolished and replaced by 5,000 new apartments, townhouses and condominiums.
Proponents said that none of the existing apartments were guaranteed to be affordable and that rents have been increasing in the past two or three years.
Another report, by Prudential Douglas Elliman, found that the median sale price on the resale of existing apartments was down by 25.6percentt from a year earlier.
Similar(31)
In 1996 I purchased a studio apartment next to my existing apartment and received the co-op's permission to combine it with my one-bedroom unit.
For this paper, a sensitivity analysis was performed to determine the most significant parameters for buildings in hot-humid climates by considering the design of an existing apartment building in Izmir, Turkey.
The developed method was tested and validated using experimental and computational performance analyses and the energy efficiency, operation and potential limitations of the developed application were also studied in existing apartment buildings.
That is competitive with new and existing apartment buildings in the 20's and 30's, where rates range from $36 to $50 a square foot, said Andrew Heiberger, president of Citi Habitats, a rental brokerage concern.
It is also permissible, he said, for the co-op to require a tenant-shareholder to be responsible for maintenance charges on an existing apartment until the apartment is occupied by a new tenant-shareholder -- but also for a period not to exceed 90 days -- as a condition for granting approval for an existing tenant-shareholder to transfer from one unit to another.
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