Upper West Side landlord pitches Mamdani rent freeze-proof portfolio 
One of the country’s biggest apartment owners is pitching a large Manhattan portfolio that would be insulated should Zohran Mamdani follow through on his campaign promise to freeze the rent. UDR, the Colorado-based multifamily REIT, and its partner MetLife are eyeing up to $500 million for a group of rental buildings around Columbus Circle, The Real Deal has learned. Four of the five buildings are free market. And the fifth is subject to an older 421a agreement under which an owner could raise rents by 47 percent before hitting their legal rent limits. “With no exposure to income-restriction and minimal […]
This article originally appeared on The Real Deal. Click here to read the full story.
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