Step One: Find a building owned by infamous slumlord Baruch Singer. 98 Morningside Avenue in Harlem sounds like a good one. Wait for part of it to be destroyed in a fire.
Step Two: Let the tenants of a rent stabilized two-bedroom move out while they wait for the repairs to be made. In the meantime, the Division of Housing and Community Renewal will lower their rent from $436/month to $1/month.
Step Three: Respond to a Craigslist ad that lists the apartment at market rate. Sign a two-year lease for $2,100/month.
Step Four: Find out that the apartment is actually supposed to cost $1/month when the previous tenants, who have been waiting to move back in this whole time, sue you and the landlord.
Step Five: Ignore the tenants. Sue the landlord.
Step Six: The tenants will be forced to withdraw their suit, for some reason. (This piece could also be titled How To Get Completely Screwed Out of Your $1/Month Apartment in Seven Easy Steps.)
Step Seven: The court will order the landlord to pay you $104,000 in overcharges and legal fees. The Division of Housing and Community Renewal will take its sweet time responding to Singer's application to raise the rent back up to market rate. In the meantime, keep paying $1/month. Enjoy your status as the luckiest son of a bitch in New York City.
· Cheapest Digs in Town: Tenant Pays Just $1 a Month for Harlem Two-Bedroom [DNAinfo]
· Baruch Singer coverage [Curbed]
· Rent Stabilization coverage [Curbed]