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Long-Term Apartment Vacancies Seen Rising in New York

An 8% Year-Over-Year Increase Reported in Apartments Empty for Two Straight Years
More than 13,000 units have been vacant for two years in a row in New York City, according to a report by the Independent Budget Office. (Getty Images)
More than 13,000 units have been vacant for two years in a row in New York City, according to a report by the Independent Budget Office. (Getty Images)
CoStar Analytics
August 25, 2023 | 2:45 P.M.

A report by the Independent Budget Office, a publicly funded agency in New York City, found that the number of long-term vacancies rose in rent-stabilized apartments, or units with predetermined rent increases.

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