Ways to Lose Your Rent-Stabilized Apartment

Thursday, August 21, 2014
By Janet Babin : Economic Development Reporter, WNYC News

Mayor Bill de Blasio set an ambitious affordable housing agenda, promising the city he would build or preserve 200,000 units of affordable housing over the next decade. The administration has made clear that a majority of those units will come from preserving the affordable stock that already exists, around 1 million rent-stabilized apartments.

But each year, some of those units convert to market-rate apartments. According to a report from the New York City Rent Guidelines Board, last year the city lost 7,597 rent-stabilized units.

While that number was lower than the number of apartments lost in 2012 — and there was actually an overall net gain in affordable units — the mayor has said that every unit of affordable housing must count. …MORE

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