Rent-controlled apartments (not rent-stabilized apartments, with which they are often confused) are dying out, as the last ones were created over 40 years ago and tenancy succession rules require cohabitants or family members to live in an apartment two consecutive years before the lease holder passes away. There are currently only 27,000 in New York City, down from 38,000 three years ago and from 2 million in the 1950s. [City Limits; previously]
Filed under: