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Many landlords do not fill their vacant rent stabilized units, as the operational and renovation costs may exceed the legal maximum rent. As of 2022, there are roughly 20,000 vacant rent stabilized apartments in New York City. [33]
Legally, a rent-stabilized apartment in NYC can have a monthly rent that rises above the $2,700 threshold. When the rent reaches that limit, however, and the tenant begins making too much money ...
The median rent-stabilized apartment goes for $1,500 a month, meaning a 2.75 percent increase works out to a $41 monthly rent increase. While rent-stabilized tenants' incomes are lower on average ...
Almost half of all apartments in New York City are rent stabilized. It was a system designed to keep some units affordable, especially in older buildings put up before 1974.
According to Sharon Otterman and Matthew Haag of The New York Times, the HSTPA "mark[s] a turning point" for the millions of New Yorkers living in rent-stabilized apartments "after a steady erosion of protections and the loss of tens of thousands of regulated apartments."
The city of New York recently voted to allow an increase in prices for rent-stabilized apartments. According to the press office of Mayor Eric Adams, residents who live in rent-stabilized ...
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