Sunday, July 13, 2008

Congressman Rangel Likes Rent Control So Much, He Has 4 Rent-Controlled Manhattan Apartments


NY TIMES -- While aggressive evictions are reducing the number of rent-stabilized apartments in New York, Representative Charles B. Rangel is enjoying four of them, including three adjacent units on the 16th floor overlooking Upper Manhattan in a building owned by one of New York’s premier real estate developers (see pictures above).

Mr. Rangel, who has a net worth of $566,000 to $1.2 million, according to Congressional disclosure records, paid a total rent of $3,894 monthly in 2007 for the four apartments at Lenox Terrace (16M, 16N, 16P and 10U), a 1,700-unit luxury development of six towers, with doormen, that is described in real estate publications as Harlem’s most prestigious address.

MP: Market rents for those apartments would be more than $7,000 per month.

Update: Rep. Rangel defiantly defends having four rent-stabilized apartments in
NY Daily News, "I don't see anything unfair about it, and I didn't even know it was a deal." (Thanks to Juandos.) Here's a followup NY Times story.

10 Comments:

At 7/14/2008 1:12 AM, Blogger randian said...

Since the landlord is only obligated to give Rangel one below-market rent apartment, the reduced rent and adjacent locations (to more easily treat them as a single unit) clearly constitute a bribe. What is the landlord getting for it?

 
At 7/14/2008 8:38 AM, Anonymous Anonymous said...

Yeah, but like the Senators with sweetheart loans from Countrywide, I'm sure he didn't ask for special favors.

 
At 7/14/2008 9:40 AM, Blogger juandos said...

Oh dear! Now that Rangel has been outted he's is now having a hissy fit...

New York Daily News: I'm not getting rent deal, Rep. Charles Rangel rages

Rep. Charles Rangel defiantly defended having four rent-stabilized apartments Friday as Republicans, critics and constituents railed against what they called a sweetheart deal.

"I don't see anything unfair about it, and I didn't even know it was a deal," said Rangel, 78, who chairs the powerful House Ways and Means Committee and is the dean of the New York congressional delegation.

"I did not negotiate or ask for a lower price, and I'm paying the legal rent."

 
At 7/14/2008 10:05 AM, Anonymous Anonymous said...

Is that the smell of burning pants?

Can one really have credibility when you compare the war in Iraq to the holocaust?

http://sayanythingblog.com/entry/charles_rangel_compares_iraq_war_to_the_holocaust/

or arranges earmarks in support of his own personal foundations:

http://www.theneweditor.com/index.php?/archives/7086-Charles-Rangels-Monument-to-Me.html

 
At 7/14/2008 12:59 PM, Anonymous alex said...

How seriously out of touch do you have to be to not know that $3000 for four apartments in NYC is a deal??

 
At 7/14/2008 4:18 PM, Anonymous Anonymous said...

alex, please. Be fair. Rangel paid $3,894 per month or $973.50/month each for four apartments, with doormen in one of Harlem’s most prestigious address, not $3,000.

 
At 7/15/2008 12:47 PM, Anonymous Anonymous said...

Ok...how out of touch to you have to be to not know that $3,894 per month for four apartments in NYC (or $973.50/month each) is a deal?

 
At 7/16/2008 10:22 PM, Anonymous Jealous said...

.


Rangel is a great guy and deserves those apartments for free , as do all Politicos who are bribed by PAC's and Big Business for their votes on their pet projects .... why shouldn't he receive a bribe , I mean , good deal for his good work

Quid pro Quo


Charlie's a master dealmaker , always for his own good , sometimes even for his constituents......

sometimes




.

 
At 7/30/2008 8:02 AM, Anonymous aufkleber druck said...

GooD job! :)

 
At 7/30/2008 8:03 AM, Anonymous aufkleber druck said...

Good Job! :)

 

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