This is a man who has donated millions to NYU law school. It is also a man who mostly eats out and has traveled to 163 countries. So this is not a man strapped for cash. But when asked about his ugly apartment here is what he has to say:
Why does he live here?Why the hell is a policy designed to help poor people pay rent going to support a man who has enough spare cash to make a $2.4 Million contribution?!? Is this what rent stabilization supposed to do?
“Ever hear the words ‘rent stabilized’?” says Mr. Podell, who’s paying $702 for a one bedroom in SoHo. “What do I need a fancy place for? A lot of people want to show off their wealth. It ain’t me, baby.”
No wonder there is a shortage of affordable housing for the poor. The rich lawyers who can figure out how to work the system get the $702/mo sweet houses in SoHo. Then they donate money to other rich people who are part of the same old boys network to learn how to do the same. The the truly poor who could use this apartment have to spend more on a non-rent-stabilized apartment in a worse neighborhood because all the good affordable houses are taken by rich pricks like Albert Podell. It is no wonder that Albert Podell donates to every democrat cause there is. They keep his rent down, so he can afford to take lots of trips and fuel his ego with NYU law centers named after him. He probably sits around wonders why the Republican party is doing nothing to help the poor in New York. The reason should be obvious. Whatever the Republican party will do, some clever NYU lawyer will find a way to steal from the poor.
And he will boast about it.
Most New York students pay more than that for housing. Most families on welfare are paying that much or more. Certainly people who have millions to throw around could afford not to claim they need a rent stabilized apartment.
If we get rid of rent stabilization the rich will have to pay actual market value for their SoHo, Upper West Side, Brooklyn Heights, or Park Avenue apartments, and the owners of the building will have to pay higher taxes on the income. So why do democrats complain that every one of Bush's tax policies has been designed to help the rich? Probably because it is true. But it is true because all these stupid policies are designed to help the rich, including these dumb do-gooder rent-stabilization laws.