Rent freeze redraws math for New York landlords
New York City’s rent-stabilized landlords got the policy outcome they feared for months: no rent increase at all. The Rent Guidelines Board voted 7-1 Thursday night to freeze rents on both one- and two-year rent-stabilized leases, handing Mayor Zohran Mamdani a political victory and cementing one of the most aggressive tenant-friendly moves in the board’s history. While annual RGB votes often spark fierce debate, a freeze on two-year leases is unprecedented, raising the stakes for owners already grappling with rising operating costs and tighter financing conditions. The decision fulfills one of Mamdani’s signature campaign promises and marks a sharp departure […]
This article originally appeared on The Real Deal. Click here to read the full story.
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