Word: rent
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Dates: during 1960-1969
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...nation's biggest city, the only thing higher than the buildings is the cost of renting a few square feet of space in them. When leases expire these days on apartments not subject to rent controls, landlords throughout New York City are demanding rent increases averaging 26.5%. In Manhattan, rents have been rising an average of 31%, and "horror case" increases of 60% are not unheard of. On top of the boosts, many leases now provide for "automatic" raises of 5% or more a year and further hikes whenever real estate taxes rise. Some landlords offer only two-year...
...income people are forced out just as surely as if they had been evicted, and it does not take long to find a new tenant in what is very much a landlords' market. Desperately seeking living space, Manhattanites generally settle for less space than they need at more rent than they can comfortably pay. Quite a few have fled to the suburbs...
Raising the Roof. Damning the situation as "unfair and in many cases outrageous," Mayor John Lindsay has demanded a rollback of the "exorbitant" rent increases and a freeze on further boosts until March 1. By then, he warns, the city's landlords had better produce a formula for self-regulation against gouging or they will face legislated controls. The owners are expected to come through with some sort of plan-and for good reason. With an election due in the autumn, Democrats on the city council are threatening the landlords with a number of politically popular bills, including...
Frank O'Rourke, general manager and vice-president of Barnes and Noble, said yesterday that the company's lease was running out on its building and that the building's owners were planning to triple the rent. "This was a marginal profit operation," O'Rourke said, "and there isn't that much margin in textbooks...
...delighted to cough his life away in a cold-water flat-knew he still had a fight on his hands if he wished to save his current project. He knew that while financial failure might bring popular acclaim in this looking-glass city, it just doesn't pay the rent. And Wednesday night, Jeremy Leven quietly closed his show...