Elected officials are required by NYC law to disclose all extra income "of $1,000 or more from each source," and that includes income paid by any tenants at property they own. But mayoral frontrunner Bill de Blasio, who owns a charming two-family home on 11th Street in Park Slope, has not disclosed income from the rental since at least 2007, Crain's reports today.
(The house in question, located at 384 11th Street)
One unit in the house is currently for rent for the standard obscene price of $2,200 per month, according to Trulia.com. The Times previously reported that de Blasio bought the house with his wife and his mother, who lived there until she died in 2007, after which de Blasio began renting it. NYC Department of Finance records show that they bought the house for $612,000 and it's now worth an estimated $1.1 million.
"The building was properly filed and disclosed according to the law," a de Blasio spokesperson tells Crain's. De Blasio's 2011 tax return shows $47,500 in rental income offset by $62,200 in deductions for the property, and the spokesperson tells Crain's that "because there was no net income, the rental proceeds did not need to be reported to the conflicts board."
In case you're wondering, de Blasio is reportedly an awesome landlord. The first floor tenant says, "They are just the most wonderful people. Anything that's a problem, they take care of it immediately."