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PoliticsNew York City Rent Guidelines Board approves Mamdani's two-year rent freeze
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New York City's Rent Guidelines Board voted 7-1 on Thursday to approve Mayor Zohran Mamdani's two-year rent freeze proposal, affecting approximately 1 million rent-stabilized apartments. The independent board, composed of mayoral appointees, applied the freeze to units in buildings constructed before 1974 and those with certain tax breaks. The measure takes effect starting in October, marking a significant intervention in the city's housing market amid affordability concerns.
Source report
New York City's Rent Guidelines Board voted Thursday to approve Mayor Zohran Mamdani's (D) two-year rent freeze proposal, affecting approximately 1 million rent-stabilized apartments.
The 7-1 decision, made by the independent board composed of mayoral appointees, applies to:
- Rent-stabilized apartments in buildings constructed before 1974
- Buildings with certain tax breaks
The rent freeze is set to take effect starting in October.
Source
Just In NewsWestern
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New York City Freezes Rents for 1 Million Stabilized Apartments