Tenant Loses the Thing New Yorkers Dream of Due To Greed, Airbnb

February 20, 2015 | Bucky Turco

For the first time, a rent stabilized tenant lost their coveted rent-stabilized status for renting out their apartment on Airbnb and turning a profit. A housing judge ruled that Henry Ikezi violated the lease on his luxury apartment on West 42nd Street by renting it out for $649 a night and must vacate it by the end of the month. As noted by Curbed, “Ikezi only paid about two-thirds of its market-rate rent, or $6,670 per month” for the two-bedroom penthouse. According to neighbors, Ikezi maintained a full time residence in Jamaica, Queens and this was operated more like a hotel that catered to tourists than a “personal home” like it says on his listing. The only thing not explained is why a luxury two bedroom was rent stabilized in the first place. (Screenshot: Airbnb)