Hi,
I've come across a rent stabilized apartment in a new building (I think the broker said it was about 5 years old..but I could be wrong). As I understand it, since the unit is relatively new it must be rent stabilized because the owner is receiving a tax abatement (would it be 421a, j-51, or something else?). I've only lived in a prewar rent stabilized building before and am looking for the same type of protection against unreasonable rent increases, and I'm interested in a long-term living situation where I don't have to worry about moving.
What are the implications for me as a tenant if I sign a lease for a rent stabilized unit in a new building that is receiving a tax abatement? Would my lease be destabilized once the abatement is phased out?