Never heard of the Olnicks? Aside from industry insiders, pretty much no one had until July 11, when The New York Times revealed that, amid an affordable housing crisis, Congressman Charles Rangel had been hoarding four rent-stabilized apartments in the Olnick’s Lenox Terrace complex in Harlem.

It may be hard to believe that in a city so consumed with itself, so dedicated to narcissism and self-love, money and power, the Olnicks would shun the spotlight. But do a Nexis search on the family name, and aside from some clips in Real Estate Weekly—which faithfully publishes personnel and small lease announcements—you’ll find nary a hit until this month.  read more »

At the Crain's business breakfast breakfast this morning Representative Anthony Weiner spoke about "saving" New York's middle class, a theme that is likely to be at the center of his mayoral campaign.

The crux of Weiner’s speech, at the Grand Hyatt Hotel in Manhattan, focused on job development. He did not rule out raising taxes, but did say that high taxes stymie job development. He defended the policy that prevents Wal-Mart (but not other big box stores), from coming into the city because it does not pay adequate wages. And he said that the city has to do a better job of offering incentives to keep business in New York City, since New Jersey has lower business taxes and can still access the city's workforce.  read more »

City Room has a Q-and-A thread going on rent-stabilization with housing lawyer Joel E. Abramson. Wonder why.

Three days after the New York Times reported that Representative Charlie Rangel rents four rent-stabilized apartments in Harlem, Rangel's neighbor, Governor David Paterson, unveiled this public service announcement on the topic of housing for non-rich people, featuring actor Edward Norton, and two others featuring former Giant Tiki Barber and former Met (briefly) Mo Vaughn.

Paterson’s office said the ads began airing on July 14. In an press release announcing the ads, Paterson’s office said the objective is “to promote the continued development of affordable housing in communities throughout New York State. The PSAs are part of a larger campaign – Affordable Housing Works – which touts attractive and high quality affordable housing developments across New York State.”

Conservative watchdog the National Legal and Policy Center has called on the Federal Election Commission to investigate Congressman Charles Rangel's rent-stabilized apartments in Harlem, including one used as a campaign office.

Release on the FEC complaint here. More on the Rangel imbroglio in The Observer here and here. (Hat tip: Curbed).

In his colorful response today to a Times story on the four rent-stabilized apartments he rents, Representative Charles Rangel said repeatedly (as captured in video by The Observer’s Azi Paybarah) that the below-market-rate apartments are not a gift (which would need to be reported per campaign finance law).

“If you’re paying the legal rent, and without the law, the rent could be higher, just what school did you go to that you could misinterpret that as a gift,” he said to the Times’ Jeremy Peters. “They didn’t give me anything, I’m paying the highest legal rent I can.”

Maybe.

Unanswered questions in this Rangel rent-stabilization saga-to-be are many, but based on New York’s arcane, sometimes-twisted rent-stabilization laws, here’s one thought of how the apartments could be construed as a gift:

Mr.  read more »

Hat tip: Politicker.

Rent stabilization is one of the nation's most successful affordable-housing initiatives since World War II, but it's increasingly harder to defend thanks to the sorts of performances today by Representative Charles Rangel of Harlem.

As The Times' City Room blog notes, Mr. Rangel was recalcitrant, rude and vulgar in his defense of renting four stabilized apartments in Harlem's Lenox Terrace complex at West 135th Street. Here he is responding to a question from Times reporter David Kocieniewski:

“I have decided unilaterally that you have asked more than your share.” He added, when Mr. Kocieniewski tried to press him, “Hell no, I’m not going to respond to you.  read more »

]]> http://www.observer.com/2008/real-estate/trouble-rangels-rent-stabilization#comments Real Estate Charles Rangel rent-stabilization Fri, 11 Jul 2008 14:16:58 -0400 Tom Acitelli 71743 at http://www.observer.com http://www.observer.com/2008/politics/rangel-begs-premise

Here’s Charlie Rangel responding, after a fashion, to a question from Jeremy Peters of The New York Times about those four apartments he occupies at below-market rates.

]]> http://www.observer.com/2008/politics/rangel-begs-premise#comments Politics Charles Rangel Jeremy Peters Fri, 11 Jul 2008 14:10:26 -0400 Azi Paybarah 71741 at http://www.observer.com http://www.observer.com/2008/real-estate/rangel-his-rent-stabilized-apartments-fairness-so-subjective

The Times' Sewell Chan has a run-down on Representative Charles Rangel's public defense today of his four rent-stabilized apartments in Harlem. Mr. Rangel, who entered Congress in 1970, a year after the state introduced rent-stabilization in New York City, seems rather flustered by all the attention:

Toward the end of his news conference, Mr. Rangel suggested that it was absurd that he should be criticized, asking rhetorically whether he should place an ad in a newspaper asking, “Is there any place I can get this at a higher price because there’s some crazy reporter who thinks I have a good deal?”

]]> http://www.observer.com/2008/real-estate/rangel-his-rent-stabilized-apartments-fairness-so-subjective#comments Real Estate Charles Rangel Harlem rent-stabilization Fri, 11 Jul 2008 13:11:32 -0400 Tom Acitelli 71736 at http://www.observer.com