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Signing a rent stabilized lease for a unit in a new building

NYC Rent Regulation: Rent Control/Rent Stabilized, DHCR Practice/Procedures

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Signing a rent stabilized lease for a unit in a new building

Postby aptnyc » Thu Oct 04, 2012 8:09 pm

Hi,

I've come across a rent stabilized apartment in a new building (I think the broker said it was about 5 years old..but I could be wrong). As I understand it, since the unit is relatively new it must be rent stabilized because the owner is receiving a tax abatement (would it be 421a, j-51, or something else?). I've only lived in a prewar rent stabilized building before and am looking for the same type of protection against unreasonable rent increases, and I'm interested in a long-term living situation where I don't have to worry about moving.

What are the implications for me as a tenant if I sign a lease for a rent stabilized unit in a new building that is receiving a tax abatement? Would my lease be destabilized once the abatement is phased out?
aptnyc
 
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