That's simply not true. Vacancy decontrol for a rent stabilized apartment only kicks in if the legal rent for an apartment has reached $2500. So it is very much the case that a vacant apartment can be subject to rent stabilization and cannot be rented for whatever the market will bear.
Comments
That's simply not true. Vacancy decontrol for a rent stabilized apartment only kicks in if the legal rent for an apartment has reached $2500. So it is very much the case that a vacant apartment can be subject to rent stabilization and cannot be rented for whatever the market will bear.
See this page for worked examples: http://www.nycrgb.org/html/guidelines/vacancy.html