August 25, 2023
Upwards of 13,000 rent-stabilized homes in New York City have sat vacant over the past two years, according to a new report. Out of 42,275 rent-stabilized apartments listed in April 2022, many of which were marked as "newly vacant," 13,362 units remained empty for two consecutive years, up from 12,300 in 2021, according to the report by the city's Independent Budget Office. These data points are making officials question whether the units are vacant due to tenants moving in and out or whether they have been "warehoused," or deliberately taken off the market, according to Gothamist.
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