B1 Backing for Rises in Rent The city's Rent Guidelines Board gave preliminary approval to raising one-year leases by 4percentt and two-year leases by 6percentt for rent-stabilized apartments.
The finding allows the start of a public comment period and could result in leases by the end of the year, officials said.
Developers of the pilot projects will be awarded 50-year leases by the Army, and their return over that period will be from rents from the units.
Lindsey Zuckerman, who has moved twice and found renters to take over her leases by advertising on Craigslist, knows that first hand.
Some of those inside the reserve secure leases by greasing palms; others pay wardens for illegal permits, or start up as temporary camps and never leave.
Clearing the way for the highest rent increases since 1996, the New York City Rent Guidelines Board gave landlords preliminary approval last night to raise one-year leases by 4percentt and two-year leases by 6percentt for the one million apartments covered by rent stabilization.
His strategy — suing the Malkin-Helmsley group for a hundred million dollars, alleging, among other things, that they've violated the leases by allowing the building to become a "rodent infested" commercial slum — has proved fruitless.
Now a spate of recent leases by more than a dozen food-related businesses, as well as the opening of a much-anticipated boutique hotel, is spurring landlords, restaurateurs and real estate brokers to suggest another Eighth Street revival.
With the exception of two major leases by American Express and Citigroup Asset Management, rentals here related to Sept. 11 fall into the small-space category of 4,000 to 8,000 square feet.
At the Foundry, for example, a 222- apartment, two-building complex that opened on 10th Avenue between 54th and 55th Streets in March, those renters who signed leases by July 1 were entitled to two months free rent.
"Now we have full approval, we have an agent, Newmark & Company, and we have plans for tenants," he said, referring to a marketing program that may result in leases by this summer.
