With strict limits on how much landlords can raise prices, New York City's rent-controlled apartments are an exceptional rarity in the 21st century — the apartment building has to have been built prior to 1947, and the resident has to have lived there continuously since before 1971.
In Manhattan, where people pay a premium to squeeze into a shoebox, a spacious rent-controlled apartment would make an enviable prize. But on Riverside Drive, home to the borough's most coveted properties? You'd go just about crazy to get one, and you'd certainly be crazy to let one go.
