“They are regulated apartments that have a lower-than-market rent and they are in great demand by people who really need them.”
People willing to pay a bride or kickback to get them?
New York City's situation is a bit different from the rest of the country. We have a lot of rich people and then a huge service sector that can't afford Manhattan rents. They have to live out in the far reaches of the boroughs to be able to afford the rent, usually. The lucky ones get stabilized apartments.