What are 80/20 buildings like?

[bsjd00]

Does management maintain the decorum and safety of the building? Or do you often have to deal with issues created by folks who don't respect the building?

I know I may get yelled at for asking this question, but I think it's a legitimate query and would appreciate any replies.

Also, if a building is rent-controlled, does that mean the rent of ALL tenants is kept within a maximum increase each year, or only those who qualify for affordable housing?

[Front_Porch]

Semantics point: Buildings aren't rent-regulated, apartment units are.

It's unlikely that you're looking at any apartments that are rent-controlled (which was a pre-1947 mandate) but more likely that you're seeing units that are rent-stabilized (which still limits a landlord's ability to increase the rent each year.)

If you want to know if a unit is truly rent-stabilized, you need to contact the New York State Division of Housing and Community Renewal. DHCR will give you the highest legal rent that can be charged for the unit -- the rent being offered may be under. (If you know about 80/20 buildings, you probably already know about DHCR, so forgive me; if not, you can get them through 311).

If you're curious if your rich neighbors' units would be rent-stabilized, the answer is that they would not be if they were subject to "luxury decontrol," which happens when a previously regulated unit a) rents for more than $2,000 a month and b) the tenants report an income of $175,000 or greater for more than two years running.

sorry for the hair-splitting, hope some of it helps in your housing search.

ali r.
{downtown broker}

[JeremyZ]

At least a few of the Related buildings are/were 80/20, so if you know what they're like, that's probably pretty normal.

I'm just in a very new construction 80/20 right now, and other than one bonehead 20, the rest are pretty normal, respectful people. There are probably a proportionally equal number of bonehead 80s. If it's a nice building, you're dealing with 20s who are pretty clever at getting through the system, so they're not likely to be any more freakshow than market rate tenants.

Bottom line, I'm sure you couldn't pick out an 80/20 building unless someone told you.

[precision80]

Bottom line, I'm sure you couldn't pick out an 80/20 building unless someone told you.

Totally disagree. I used to live in an 80/20 building and you could tell 100% who was the 80 and who was the 20. I dont know if sophistication or cleverness was at work, i think it was more luck. Dont get me wrong though, there were plenty of boneheads that were in the 80% as well.

[alibrot]

I am in an 80/20, and its VERY easy to pick out a lot of the 20's.

The 20's tend to be home during the day more than the 80s, tend to dress very poorly, and tend to be out of shape and unkempt, tend to have multiple kids (whereas most of the 80s have no kids). But they dont cause overt trouble. They have the most to lose if they abuse the building.

The 80s pay a lot of money, and sometimes feel its their right to misbehave esp when they come home trashed.

The problem in general are guests of both the 80s and the 20s who act like they're in a club, and abuse the building. How much this happens depends on the character of the building, which is hard to tell until you live there a while.

[Peteynyc1]

In related to tax abatements with new construction and 80/20, I know that my new building actually housed the "20" in another building off site from the development according to the offering plan. They bought a second building nearby and put those folks there after what is probably some crappy renovations. Maintains the building value alot more I suppose while still grabbing that much needed tax abatement.

[JeremyZ]

I am in an 80/20, and its VERY easy to pick out a lot of the 20's.

The 20's tend to be home during the day more than the 80s, tend to dress very poorly, and tend to be out of shape and unkempt, tend to have multiple kids (whereas most of the 80s have no kids). But they dont cause overt trouble. They have the most to lose if they abuse the building.

[snip]Heh. I guess we were lucky in Columbus Green - our middle class tenants were in shape, and well-dressed! It made it easier for the wealthy to look at them. :)

You guys crack me up.