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Rangel's deal
Well-to-do politician gets a break on housing
WEDNESDAY, JULY 16, 2008

Rep. Charles B. Rangel, D-N.Y., has been embarrassed into vacating one of his four rent-controlled apartments in a luxurious Harlem high-rise.

That shouldn't be too much of a hardship on the chairman of the powerful House Ways and Means Committee who has a net worth somewhere between a half-million dollars and $1.2 million. The apartment was being used as an office in apparent violation of state guidelines.

He was paying only $630 a month for the one-bedroom place, although market rates for similar apartments in the building were $1,700. Actually, he was not paying, his campaign funds were.

The Harlem congressman, who earns a base pay of $169,300 annually, has been renting all four apartments for $3,894 a month, when they would go at a market rate of $7,465 to $8,125. The great deal was reported last week by the New York Times.

But Mr. Rangel is not alone among privileged New York politicians. The Lennox Terrace, which has been described as Harlem's "most prestigious address," is also home to Gov. David A. Paterson. He maintains a two-bedroom apartment there for $1,250 a month. His father, Basil A. Paterson, pays just $868 for a rent-stabilized apartment.

Not a bad deal when you compare that to the $1,000, $1,200 and more north country residents are paying for a place to live.

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