Rent increases and higher property taxes have placed added financial burdens on many people throughout New York City, but a tax program included in the state's annual budget is meant to provide some relief. The $85 million program, dubbed "Circuit Breaker," will offer a state income tax credit for qualifying renters and small homeowners, including condominium owners and cooperative shareholders.
About two years ago, residents of a Harlem cooperative wrote a letter drawing attention to what they claimed were construction defects in their city-subsidized building. The letter was sent to the Department of Housing Preservation and Development (HPD), and this year the letter was disseminated to state legislators.
This winter was a rough one for New Yorkers, but residents of an apartment complex in Battery Park City say they were especially chilled because of the building's construction flaws. The 1,700-unit building was opened in 1986, and according to a class action lawsuit, temperatures in the apartments dropped so low that frost accumulated on the walls.
Thousands of buildings in New York are equipped with either rooftop or indoor water tanks. From these tanks, water is piped throughout the buildings for drinking, washing and fire suppression. According to city building codes, water storage tanks must be constructed of either steel or wood.
If you've been in the market to rent or buy a residential property in New York, then you may have encountered what appears to be a so-called "ghost listing." The property is advertised online, but a phone call to the agent ends with a sales pitch for a different property because the property you called about has already been sold. After wondering why the first listing wasn't taken down, you might suspect that the agent used a classic "bait-and-switch" to lure you into making the call.