Adding zeroes: Amtrak jacks up rent for Queens homeowners

Astoria residents report rent hikes from $25 to $25,560 a year

New York /
Aug.August 26, 2016 10:45 AM

Think the price of Amtrak tickets has gotten steep? The railroad is raising rates for a group of Queens residents who have leased space under the Hell Gate Bridge for generations for as little as $25 a year.

Earlier this month, Amtrak reportedly sent letters to homeowners whose properties are adjacent to the bridge informing them of the change, DNAinfo reported. One Astoria resident says the railroad company bumped up her rent to $25,560 a year from $25, while another homeowner reports a $50-to-$45,000 hike. “I thought it was a typing error, to be honest,” said the resident now facing a $45,000-a-year bill.

In a statement, Amtrak said it was raising rents for some lease holders who hadn’t seen a change in 70 years despite rising market values for the properties. “To ensure reasonable leases at fair market value, these lease holders, who currently pay approximately $25 a year, can expect to be charged a fraction (less than 1 percent) of the fair market rental rates,” the company said.

Several residents have been renting out the spaces as parking spots or using for other commercial purposes, but some local elected officials called the rent hike a “money grab.”

“These families who’ve been affected have been stewards of this land,” Assemblywoman Aravella Simotas told DNAInfo. “It’s uncalled for.” [DNAInfo] — E.B. Solomont


Related Articles

arrow_forward_ios
TF Cornerstone President Frederick Elghanayan with 2-10 54th Avenue and 55-01 Second Street in Long Island City (Google Maps)
The 10 biggest new project filings in NYC
The 10 biggest new project filings in NYC
Rendering of 22-43 Jackson Avenue (Trader Joe’s)
The priciest outer-borough condo filings of 2020
The priciest outer-borough condo filings of 2020
Chris Whittle and Tishman Speyer’s Rob Speyer with a rendering of The Wheeler at 181 Livingston Street (Photos via Getty Images and The Whittle School)
Here are the 10 biggest office leases in Brooklyn and Queens of 2020
Here are the 10 biggest office leases in Brooklyn and Queens of 2020
From left: Eliot Spitzer, 420 Kent Avenue, Two Trees Management’s Jed Walentas  and 300 Ashland Place in Brooklyn (Photos via Getty; ODA Architecture, 300 Ashland)
These were the largest outer-borough real estate loans in November
These were the largest outer-borough real estate loans in November
A rendering of the Flushing waterfront and Council member Peter Koo (Rendering via Hill West Architects; New York City Council)
City Council approves Special Flushing Waterfront District
City Council approves Special Flushing Waterfront District
48-00 Grand Avenue in Maspeth and Prologis CEO Hamid Moghadam (Google Maps; Prologis)
Prologis picks up Maspeth parcel for $51M
Prologis picks up Maspeth parcel for $51M
A rendering of 153-10 88th Avenue in Jamaica (Photo via Zara Realty)
Zara Realty plans 218K-sf Jamaica development
Zara Realty plans 218K-sf Jamaica development
Silvercup Studios (Getty)
Outer-borough loan activity fired up in October
Outer-borough loan activity fired up in October
arrow_forward_ios

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

Loading...