Typically yes. Developers can petition for and receive exemptions from long-term rent stabilization control when buildings get newly constructed expressly as luxury or market rate rental properties not benefiting originally from tax incentive development programs or zoning density bonuses requiring setting aside income-restricted affordable units. However, policymakers are revisiting closing this loophole driving gentrification indirectly. Once enacted, even new high-end complexes may face future capped rents and tenant succession rights over time regardless of initial market positioning. Nothing remains guaranteed indefinitely – especially in NYC real estate.