Landing a rent-stabilized apartment in New York City has long been the key to surviving in this expensive city and avoiding big rent hikes. These are apartments in buildings where the owner has received a tax break, and in exchange the landlord can only increase the rent at renewal time by a small percentage.
Unlike other affordable housing programs in NYC, these apartments are not subject to income or other needs-based requirements, so they are fair game for anyone. Under current guidelines, if your lease is signed by September 2021, your rent cannot be increased when you're up for renewal if you have a one-year lease. For two-year leases, a 1 percent increase was approved for the second year of the lease. The Rent Guidelines Board meets annually to vote on increases; in the past increases have been 1 to 2.5 percent.
Another perk: You will likely have this apartment until you decide to move out. Legally, you have to be offered the option to renew your lease. And, it’s hard to be kicked out of a rent-stabilized apartment, unless you break the rules of your lease by subletting the unit or having pets in a no-pet building.
Find Your Next Home
Sound appealing? To help with your apartment hunt, Brick found these five rent-stabilized apartments in Yorkville, Sutton Place, Williamsburg, South Harlem, and Astoria.
217 East 88th St., #25, Yorkville
This no-fee one bedroom, one bath is listed for $1,800. The apartment has exposed brick walls, hardwood floors, recessed lighting, stainless steel appliances, and a bonus room. The building has a live-in super.
1057 First Ave., #3D, Sutton Place
This studio is listed for $2,052 with two months free on a 12-month lease. Apartment #3D is gut renovated and has hardwood floors, several windows, stainless steel appliances, storage, and a tiled bath. The apartment is on the second floor of a walk-up building.
226 Ainslie St., #3F, Williamsburg
This two bedroom, one bath is listed for $2,495. The apartment has hardwood floors, exposed brick, central air conditioning, an in-unit washer and dryer, a balcony, and black appliances. The building has an elevator, courtyard, and a roof deck.
2270 Frederic Douglas Blvd., #C, South Harlem
This no-fee two bedroom, two bath is listed for $3,400 with two months free on a 12-month lease. The apartment has hardwood floors, stainless steel appliances, granite countertops, oversized windows, and an in-unit washer and dryer. The building has a virtual doorman, elevator, package room, bike room, gym, and roof deck.
26-20 14th Pl., #2D, Astoria
This no-fee two bedroom, one and a half bath is listed for $3,800. Apartment #2D, shown virtually staged, has hardwood floors, recessed lighting, stainless steel appliances, quartz countertops, oversized windows, a balcony, and an-unit washer and dryer. Amenities include a bike room, garage parking, and storage lockers.
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