Mamdani’s rent freeze passes for 1 million units
Summary
New York City’s Rent Guidelines Board approved a two-year rent freeze for 1 million rent-stabilized apartments. This affects buildings built before 1974 and some with specific tax breaks, starting in October.Key Facts
- The Rent Guidelines Board voted 7-1 in favor of the rent freeze.
- The proposal was put forward by Mayor Zohran Mamdani.
- The rent freeze covers about 1 million rent-stabilized apartments in New York City.
- It applies to buildings constructed before 1974.
- Buildings receiving certain tax breaks are also included.
- The rent freeze will last for two years.
- The new rules will take effect starting in October.
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