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.


At 7/14/2008 1:12 AM, Anonymous Anonymous 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?

or arranges earmarks in support of his own personal foundations:

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



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

GooD job! :)

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

Good Job! :)


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