Report: Rep. Rangel Rents New York Apartments at Below-Market Rates

New York Rep. Charles Rangel is renting several Harlem apartments — all in the same building — for about half the market rate, The New York Times reports.

The newspaper reported on its Web site late Thursday that the high-powered Democrat is holding on to four rent-stabilized apartments at bargain rates, even though such apartments are scarce. Three adjacent apartments make up his expansive penthouse; the other one is used as a campaign office, even though that appears to conflict with city regulations.

The newspaper reported that Rangel paid $3,894 monthly for all four apartments in 2007, but that the going rate for similar apartments would be as high as $8,125 monthly.

The apartments are in a building owned by the Olnick Organization. Rangel received thousands of dollars in campaign contributions from one of the company’s owners, according to The New York Times.

Rangel, chairman of the House Ways and Means Committee, told the newspaper his rent does not affect his representation of his constituents.

Click here to read the full story on Rangel in The New York Times.