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Ask Curbed: Testing the Limits of Rent Stabilization

The only thing better than landing a rent-stabilized apartment is living there forever and ever, eating caviar from tiny silver spoons while your friends and neighbors scrimp and save so that they may slurp straight out of the lo mein carton. Unfortunately, it doesn't always work that way. A Curbed reader writes,

We live in a rent stabilized apartment and are wondering about when stabilization runs out? I've heard that when your annual rent goes over $2k / month the stabilization is removed? Is that true? If so, is it the lease after your rent hits that amount, or the lease when hits that amount? i.e. We just signed a lease for 1 yr. that puts us at approx. $1900 a month (2.5 bedroom in the EV) - so next year we will exceed that amount. So if the aforementioned lease de-stabilization limit is true - are we out next year? Or if we sign a 2 year lease next year are we out in 3 years? Or can we sit here as long as we want? - also - the building itself is no longer under stabilization - new leaseholders are paying market rates ($1k+ more then we are paying).Your feedback is welcome, as always, in the comments.
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