No High-Rent Decontrol During 421-a Period

July 31, 2002

LVT Number: 16036

Landlord's building, which contained more than six apartments was recently constructed and got 421-a tax benefits. While the building was under 421-a, some rents in the building would go over $2,000 per month. Landlord asked the DHCR if an apartment remained rent stabilized if there was a vacancy and the apartment rent was over $2,000. In an opinion letter, the DHCR said no. High-rent vacancy decontrol isn't available while the building remains under the 421-a tax abatement program.

Landlord's building, which contained more than six apartments was recently constructed and got 421-a tax benefits. While the building was under 421-a, some rents in the building would go over $2,000 per month. Landlord asked the DHCR if an apartment remained rent stabilized if there was a vacancy and the apartment rent was over $2,000. In an opinion letter, the DHCR said no. High-rent vacancy decontrol isn't available while the building remains under the 421-a tax abatement program.

DHCR Opin. Ltr. by Charles Goldstein (5/21/02) [2-pg. doc.]

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