When Steve Kessner began buying East Harlem rental buildings in the 1980s, like most landlords of rent-stabilized apartments, he played the long game. Keeping maintenance and renovation costs to a minimum, Kessner made modest but steady returns on his 47 properties, many of them run-down and rat-infested, and one of which he bought for just $5. But when New York state lawmakers added ways to boost rents on stabilized housing in the 1990s and 2000s,
source https://therealdeal.com/issues_articles/control-freaks/
No comments:
Post a Comment