A New York rent freeze is imminent. Bondholders still expect to be paid. 

How badly would a rent freeze affect New York City landlords? One credit agency now has an estimate.  A five-year rent freeze in New York’s stabilized apartments would drive about 6 percent of multifamily loans to default by 2030, according to a new analysis by Moody’s Ratings.  But that universe includes multifamily properties with no stabilized units. For buildings with at least one rent-stabilized unit, the rent freeze would cause more than 8 percent to default, with high rent growth in market-rate apartments helping some properties buoy their finances.  As New York’s Rent Guidelines Board this month considers enacting a […]

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