Powerball winner Pedro Quezada is hosting a rent party — for his entire block.A close friend of the newly minted megamillionaire said Quezada promised to temporarily cover the housing costs for residents in the Passaic, N.J., neighborhood that housed his bodega.“He said he’s going to pay the rent for everybody here on this block for at least a month or two months,” the friend said Saturday outside Quezada’s Apple Deli Grocery. “He’s such a good guy.”Word of Quezada’s magnanimous gesture left several of his neighbors stunned.“God bless him, and thank you,” crowed Richard Delgado, 45, after learning of the pledge.RELATED: POWERBALL WINNER PUTS PASSAIC, N.J. BODEGA UP FOR SALEJohn Koblarz’s eyes lit up when he heard Quezada had offered to cover his neighbors’ rents.
And rent-controlled tenants tend to stay in their apartments longer, rather than moving or downsizing, so most of the vacancies occur in the market-rate sector. As a result, bidding wars over the market-rate housing push the price above where it would ...more
Move will bring a slew of real estate listings, both properties up for sale and for rent. The company runs sites like Realtor.com and Move.com, and claims to reach about 35 million people each month. Last year, it reported $600,000 in profit atop $227 ...more
Some of the area's largest affordable-housing developers said it has become nearly impossible to find sites to build housing to suit what people in East New York can afford to pay in rent. Aaron Koffman, director of affordable housing for Hudson Cosmore
Most rent it out. In fact in recent months downtown condo rents have been climbing. That's fueled even more investors to jump in. So if we are a stock market of condos, does that mean eventually this bubble will burst? Experienced realtors didn't wantmore
To help pay for all this, the company is asking the city to give back $8.1 million in rent credits, while offering the option for rent hikes to market rates every 10 years. Heres the kicker: Pacifica wants to extend the lease, which expires in 2038, all ...more