The Real Deal New York

Rent-stabilized units grew by 169 in 2014: report

While 9,182 regulated apartments were added to the system, the city lost 9,013
June 02, 2015 08:30AM

The number of rent-stabilized units in the city went up by 169 in 2014.

A new report by the Rent Guidelines Board shows that 9,182 apartments were stabilized last year, while 9,013 were removed from the system, Capital New York reported. In 2013, the number of rent stabilized units went up by 1,087 units.

An average of 6,000 apartments were lost annually between 2003 and 2012, according to Capital.

The majority of the more than 9,013 units that are no longer stabilized was lost due to a vacancy and high rent, Capital reported. Other units were lost due to “high rent/high income deregulation.” About 1,000 units are no longer stabilized, because their 421a tax benefits expired, according to the website.

In order to save more stabilized units, Mayor Bill de Blasio has proposed to abolish vacancy decontrol, a measure through which landlords can de-regulate apartments when those are vacated.

“We cannot keep hemorrhaging thousands of affordable apartments through vacancy decontrol,” Wiley Norvell, the mayor’s spokesperson, told the website. “We need to get ahead of this affordable housing crisis, and ending the loss of units through holes in our rent laws is vitally important to that effort.” [Capital NY] — Claire Moses