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I should have been clearer. The parts of the rent law I’m referring to (basically IAI/MCI/high-rent deregulation) are not anti-displacement measures. And in a place like Soho, that’s really what’s at stake - regulated units leaving the market. The owner math is what it is
I disagree. I think they are *huge* anti-displacement measures because they make an eviction WAY less profitable than it was -- take an enormous amount of financial incentive away from landlords to pursue eviction and displacement.
pre: 2019: harass someone out, IAI/VB/MCI --> MR unit. today: harass someone out. hold the unit vacant til you harass out the rest of bdg, tear down all units, re-build them as new, charge first rent. it is simply much, much more expensive now for LLs to pursue this path.
This is a philosophical disagreement we have. If you want to prevent harassment, make laws focused on anti-harassment. Writing expansive vacancy control regulations in order to prevent harassment at the margin is, I think, ultimately counterproductive. We’ll disagree I’m sure.
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