Charles J. Urstadt died on 3rd March at the age of 91. He was the creator of the vacancy control and a former State Housing Commissioner of New York City.
He died because of the complications associated with a recent stroke at his home in Bronxville, New York.
He made his name in top American real estate investors and executives.
Charles had a vital role in –
- The development and growth of Battery Park City in Manhattan and
- The removal of Rent limitation in New York
Career Highlights of Charles J. Urstadt
In the beginning, his career starts by joining the Nevius, Brett & Kellogg law firm in New York. He was an attorney in the firm for a year.
After the law firm, he joined the United States Navy and served almost for two years.
He was also the assistant secretary in Webb & Knapp followed by the vice president in Zeckendorf Property Corporation.
After that, he joins the state government as the state commissioner of the housing regulator.
At that time, it is known as Housing and Community Renewal and Nelson Rockefeller was his senior in the office.
One of the best achievements in his life is the law that has his name. Urstadt Law came into practice in 1971.
The state government approved a bill that stopped rent limitation on apartments as tenants willingly abandoned in New York.
This process became popular as vacancy decontrol, and law became popular us “Urstadt Law”. It was a policy in the law that lasted about 50 years that become popular as vacancy decontrol.
After working in a state housing commissioner, he joined Hubbard Real Estate Investments.
It was a real estate investment trust at that time and later renamed as Urstadt Bibble Properties.