NYC’s ‘truly affordable’ apartments come with a price

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Those few New Yorkers who live in rent-regulated or limited-equity co-op apartments that can be thousands of dollars cheaper than their market-rate neighbors have to accommodate the deja vu that sometimes comes with living in a place they’ve know since childhood.

That’s because those lucky souls who secure a spot in one of the city’s dwindling low-rent units — like Ella Leitner, whose parents paid $12,000 for her one-bedroom unit in 1993 in a limited-equity co-op that abutted their two-bedroom – sometimes grew up in the unit and secured it thanks to being related to the former owner or renter, the New York Times reports.

Leitner and her husband knocked down the wall between her and her parent’s apartment when her parents moved to Florida, and now they and their two children live in a spacious four-bedroom unit. But Letiner has to suffer her father’s tendency to rearrange items to the places they typically resided during his time in the unit when he visits. A small price to pay.

Source: New York Times

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