The top photograph is the exterior of my building. This building is in the process of being gentrified.
The second photograph from the top is of the door to an apartment on the first floor of the house. It is 3 bedrooms, has not been renovated, and has been rented to the same tenant for 37 years. She pays $1250 per month, which is an illegal but reasonable rent.
The bottom photograph is of the door to the apartment directly next to the $1250 apartment. This apartment received a surface renovation (stainless steel appliances, Ikea kitchen, fancy schmancy bathroom fixtures, “backyard” access, etc) in November of 2012. The previous tenant lived in the apartment for 43 years and paid a maximum rent of $400 a month in all that time. The apartment currently rents for $2300. There have been no alterations in use or occupancy to account for this jump, nor is the new rent legal in any way, but it is being paid. And that, unfortunately, is the bottom line.