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The sluggishness of decontrol in this area is traceable to the rich history of U.
Unfortunately, the benefits of luxury decontrol do not go to those owners whose buildings lie outside the core luxury market.
CHIP Executive Director Dan Margulies recalled that when vacancy decontrol was last approved in 1971, it was an Erie County Democrat Assembly Member who cast the deciding vote.
The 1994 luxury decontrol provisions only affected a small percentage of the one million regulated apartments.
As to concerns voiced by tenant advocates that vacancy decontrol would lead to more harassment, Margulies turns to the statistics for the time period in the early 1970s when apartments were destabilized upon vacancy.
They chipped away very successfully, and the duo, along with founder William Moses - now CHIP's chairman emeritus - practically lived in Albany while the legislature actually passed vacancy decontrol in 1971.
The legislators may not rush to take up vacancy decontrol, but may realize the deposit of rent in court is important and a healthy real estate industry in New York City means less of a tax burden for the rest of the state," explains Pikus.
In late March, 1994, the City Council of New York passed a luxury decontrol measure.
Decontrols units renting for $2,000 or more upon vacancy
Industry experts bemoaned the fact that luxury decontrol was given to those owners who rent units for more than $2,000 to tenants who make $250,000 while tenants with the same $250,000 income or more were permitted to keep leasing apartments for less than $2,000.
The bills propose to decontrol units under several criteria including where tenants are earning $75,000 or more, units are renting for $750 or more and as units become vacant.
The legislation that passed the Senate, sponsored by Senator Joseph Bruno, of Albany/Troy would decontrol apartments where rents exceeded $2,000 per month, or income was $100,000 or more.
Luxury decontrol is a significant and important first step.
Even New York State Assembly Speaker Sheldon Silver of Manhattan was lobbying against the decontrol measures by making calls, Strasburg added.
Arnold Goldstein, managing partner of Samson Management and chairman of the RSA board of directors, noted these are luxury decontrol provisions.
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