Charles Rangel's special deal!

For Rangel, Four Rent-Stabilized Apartments

Excerpt:

Mr. Rangel, who has a net worth of $566,000 to $1.2 million, according to Congressional disclosure records, paid a total rent of $3,894 monthly in 2007 for the four apartments at Lenox Terrace, a 1,700-unit luxury development of six towers, with doormen, that is described in real estate publications as Harlem’s most prestigious address.

The current market-rate rent for similar apartments in Mr. Rangel’s building would total $7,465 to $8,125 a month, according to the Web site of the owner, the Olnick Organization.

More:

Rangel Defends Use of Rent-Stabilized Apartments

Excerpt:

Mr. Rangel, who is the powerful chairman of the House Ways and Means Committee, said his living arrangements were fair and legal and that he was paying the maximum rent allowed on all four rent-stabilized units, in the Lenox Terrace complex at West 135th Street and Lenox Avenue. “I didn’t see anything unfair about it,” he said. “I didn’t even know it was a deal.”

He did say, however, that he was evaluating the use of one of the four apartments as a campaign office, saying, “I have to take another look” at that situation. If the use of the apartment as a campaign office is a problem, he said, he would “go to another place and get a different office. Period.”

“That is something that I have to look into, but as it relates to me and my family, I’m not looking into that at all

Comment: Another reason that congressional approval ratings have plummeted to tie a historical low