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rent stabilized now free market
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Hey Redditers, I have a question. I have been living in a building in Woodside, NY. for over 8 years. When I originally got this apartment, I was told it was rent-stabilized. Forward to 2024, I got this new type of lease (not that long kind of lease), and they jacked the price by 8%. I spoke with management, and they said that this building is no longer rent-stabilized and is now a free market, and they can increase as much as they want. Can anyone confirm or give me some insight on this?
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