In the 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...
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