Looks like the newly rent regulation law in NYC is so heinous that at least one major NYC landlord decided that it’s better off just keeping some of those apartments vacant.
Way to create more affordable housing, fellas! Just keep passing more and more punitive laws that box business in so tightly that they have no option but to say “screw this” and hence create the opposite outcome from what the laws were intended for.
Quote:
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While landlords with rent-stabilized apartments may have taken vacant units off the market due to the new limits on offsetting renovation costs, there are other potential factors. The industry, Belkin said, may also be hoping that unintended effects of the new rent laws, like warehoused rent-regulated apartments, will attract the attention of lawmakers and compel them to “make remedy” in subsequent legislative sessions.
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https://therealdeal.com/2019/08/27/b...uyvesant-town/
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