Some Rich People Get to Live in Rent-Stabilized Apartments

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Not rich-rich people. But you know, when-compared-with-average-income/poverty-figures-in-the-rest-of-the country–New York–rich. The Times today introduces us to Maverick Scott, a financial adviser who successfully lobbied a judge to cap his rent at $4,920 since his luxury apartment at 37 Wall Street was built under the 421-g program, benefiting not only himself but ensuring that Ben Rosen, a 23-year-old private-equity analyst, has enough money in his checking account left over for bottle service after paying rent on an apartment in the building.

Which the Times describes thusly:


A marble-lined lobby. A private screening room. A cavernous residents’ lounge filled with glowing crystal chandeliers, 30-foot floor-to-ceiling curtains, creamy leather chairs and pool tables lined with dove-gray felt.

Topping it all was the sight that greeted Mr. Rosen on his first visit to the rooftop terrace: row upon row of young women luxuriating in the sun. “A girl in a bikini was in every single lounge chair,” said Mr. Rosen, who splits the $4,500 rent on his apartment with two roommates.

Your tax dollars at work!

A Surprise on Wall Street: Luxury Rentals May Benefit From Stabilization [NYT]