Alistair Cooke famously lived in a rent control apartment in New York City. And I had the personal experience of subletting a rent controlled apartment in New York City for a summer from a very famous movie producer. He paid $800 per month for a one bedroom apartment two blocks from Times Square, but he made well into the eight figures per year. Its a scam.
My sister lives in a rent-controlled apartment in Brooklyn Heights and has for the last 25 years. She’s tiring of living in the City, but free government sh** is a major anchor. Who wants to give up a cheap NYC apartment?
The building was built in 1880. I think that’s the last time any renovations were done to the place as well.