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.