More than 60,000 rent-stabilized apartments are now vacant — and tenant advocates say landlords are holding them for ‘ransom’
The number of empty regulated apartments nearly doubled between 2020 and 2021, a state memo obtained by THE CITY shows.
This article was originally published on by THE CITY
During a worsening housing affordability crisis, New York City landlords are keeping tens of thousands of rent-stabilized units off the market — a phenomenon tenant activists call “warehousing.”
An internal state housing agency memo obtained by THE CITY shows that the number of rent-stabilized homes reported vacant on annual apartment registrations rose to over 61,000 in 2021 — nearly doubling from less than 34,000 in just a year as the city emerged from COVID lockdown.