Rent control for $9000 apartments...
The corruption goes deep...
Since the building opened in 2011, this is obviously a 421a. So they would have set the rents at the market rate in 2011, and agreed to rent control in exchange for property tax abatements and probably zoning concessions. Now they’re stuck with $6700 when they could get $9000, but at least they still are paying minimal property tax, and will until 2021.
section 8 probably pays it these days