“Normal” Taxes

Three Manhattan apartment buildings¬† paying property taxes of $29,914 to $38,889 per apartment per year are…average. The tax bills work out to just over 30% of rents, which is normal for New York City and about six times other major cities.

The Mayor got approval for his Mandatory Inclusionary Zoning plan for East New York in March, but May wasn’t a good month for the next two neighborhood plans he proposed. Flushing West was killed altogether because of concerns about increased building height near LaGuardia Airport and area sewage capacity (neither of which has changed recently!). And, plans for the Jerome Avenue Corridor in the Bronx were delayed because strong local opposition is requiring a review.

The City is trying to move ahead with development at Hunters Point, however. HPD issued an RFP yesterday for a mixed use development with retail, a school, and 750 apartments, including roughly 450 affordable units. The first phase of development at Hunters Point is completed, but the second phase is being delayed by unanticipated infrastructure work.

The Department of Buildings is now requiring anyone seeking a permit for a shed or scaffold to show proof of insurance for $1 million in liability coverage to the Licensing Unit.

A widely reported holdover case against a tenant who rented to hundreds of Airbnb guests since 2010, resulting in a “final order of possession” in 2015, is back. The Appellate Term,¬† first department, has given the tenant in 335-7 LLC vs. Steele until July 12 to perfect a reinstated appeal.

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