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Market Rates Are For Chumps And Suckers

Fortunately there are many spots on community boards and the like; work your way up:

A rent-stabilized apartment in New York is a precious find. Which could explain the indignation that greeted the disclosure that Representative Charles B. Rangel was occupying four of them in the luxurious Lenox Terrace towers in Harlem, where Gov. David A. Paterson also has one.

Throughout the city, the well-connected (or just plain lucky) have been able to snare such prizes and retain them over the years.

But few rental buildings in the city have been as hospitable to public officials, past and present, as the Rudin Management Company’s high rise at 215 East 68th Street, where a shouted, “Good morning, your honor!” could turn every head in the lobby.

A fancy white brick monolith of 608 apartments between Second and Third Avenues, the 33-story structure, built in 1962 — when a seven-room unit went for $615 a month — is home to an unusual concentration of luminaries of the public and private sectors.

Some entered as rent-stabilized tenants; some retain that status, while others are paying deregulated prices, though often below what today’s bloated real estate market could command.

Former Mayor David N. Dinkins lives there, as did a predecessor, John V. Lindsay. Norman Goodman, the New York County clerk, and Burton B. Roberts, former administrative judge of State Supreme Court in the Bronx, are tenants, as are Betty Weinberg Ellerin, former presiding justice of the state’s Appellate Division, First Department, and Justice Jacqueline W. Silbermann, administrative judge of the civil branch of State Supreme Court in Manhattan. Also Howard Safir, a former police commissioner; Thomas Von Essen, a former fire commissioner; and John Roland, the former WNYW-TV/Channel 5 anchor.

Richard Aurelio, a deputy mayor under Mr. Lindsay, used to live there. So did Andrew P. Beame, a lawyer and grandson of another former mayor, Abraham D. Beame; Hazel N. Dukes, the former president of the Off-Track Betting Corporation who pleaded guilty to embezzlement; and Melvyn Altman, a lawyer who did time for racketeering. Tony Bennett once lived there, and so did the songwriter Sammy Cahn — until, his widow says, they were forced out to make way for a preferred tenant.

In fact, some residents say, there are still so many boldface names on the roster you could practically establish a city government right in the building.

“As you mention it, there are a lot here,” said Justice Roberts, in seeming wonder.

Posted: July 21st, 2008 | Filed under: Follow The Money, Real Estate
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