Booted tenants could make big profits on Second Avenue Subway work

New York /
Jun.June 22, 2010 09:00 AM

Renderings of the utility structure planned for outside the 96th Street station of the under-construction Second Avenue subway

Upper East Side renters displaced by the Metropolitan Transportation Authority’s Second Avenue Subway construction stand to get hefty windfalls when the agency temporarily boots them from their homes for four to eight weeks, beginning Saturday. According to the Post, relocated residents of the seven apartment buildings on which the MTA is planning critical repair work have been given two options: stay at the Hotel Marmara at 94th Street and Second Avenue for free, or take a daily stipend for room and board. The second option consists of $4,810 per month for studios, $6,000 per month for one-bedrooms and $9,000 per month for two-bedrooms, plus $40 per day per household member for food, moving and storage costs. The MTA has chosen to do the repair work itself instead of waiting for the landlords to get around to it. In all, the buildings’ rehabilitation project — including the costs of the relocation program — is slated to cost the agency between $6 million and $8 million. [Post]

 

Related Articles

arrow_forward_ios
New York Governor Kathy Hochul touring construction in the subway (Getty)
Hochul promises Second Avenue Subway work to advance in 2022
Hochul promises Second Avenue Subway work to advance in 2022
Photo Illustration of Douglas Durst, chairman of the Durst Organization (Getty)
Durst accuses MTA of stalling East Harlem development
Durst accuses MTA of stalling East Harlem development
Sen. Charles Schumer, President Joe Biden and Mayor-elect Eric Adams with the BQE (Getty, iStock)
Goodbye BQE? How infrastructure bill boosts real estate
Goodbye BQE? How infrastructure bill boosts real estate
A photo illustration of Gov. Andrew Cuomo and Mayor Bill de Blasio (Getty)
Congress came through. Why is real estate not satisfied?
Congress came through. Why is real estate not satisfied?
Dalton Gomez and Ariana Grande (Compass, Getty, Instagram/ArianaGrande)
Ariana Grande and Compass’ Dalton Gomez engaged
Ariana Grande and Compass’ Dalton Gomez engaged
Senate Majority Leader Mitch McConnell and Speaker of the House Nancy Pelosi (Getty)
Stimulus to extend eviction moratorium, provide $25B in rent relief
Stimulus to extend eviction moratorium, provide $25B in rent relief
(Getty)
MTA proposes percentage-based rent payments for Grand Central retailers
MTA proposes percentage-based rent payments for Grand Central retailers
TRD's Erik Engquist and MTA Chief Development Officer Janno Lieber 
MTA development chief: Capital budget will be “cannibalized” without federal aid
MTA development chief: Capital budget will be “cannibalized” without federal aid
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...