Because the supply of such apartments is limited, he must outbid others who also want one.
But from 2006 through 2008, the number of such apartments increased by only three, to 77 from 74, Morningstar reported.
Owners of such apartments might hesitate to sublet their units to families with young children, they say.
"It is the smallest segment," said Kirk Henckels, a senior vice president at the Manhattan brokerage of Stribling & Associates, who specializes in the sale of such apartments.
The value of such apartments rose at an annual average rate of 6.3%, vs. 3.9% for all homes.
Then there are times when he is treated like catnip — usually by women, like the ones who spotted him strolling through the cleaned-up courtyard of one such apartment complex in Brownsville, Brooklyn, called the Plaza, that Mr. Vaughn and his partners bought in 2007.
The 1998 median annual income of tenants in such apartments was $15,000, compared to $30,000 in those renting for $500 and above.
Ms. Gibbs says the city has increased inspections of the buildings recently, and, in any case, will reduce by half the number of homeless families in such apartments by June.
The new rule requires a landlord to notify the first new tenant of such an apartment what the old rent was and how the new rent was calculated.
Some outer districts, especially Mănăștur, and to a certain extent Gheorgheni and Grigorescu, consist mainly of such large apartment ensembles.
Mr. Mercurio of the Board of Realtors said RiverVue was one of "a sudden spate of such luxury apartments" coming on the market in Westchester.
