NYC rent freeze for 1 million units

New York City Mayor Zohran Mamdani’s administration secured a rent freeze for approximately 1 million rent-stabilized apartments, covering both one-year and two-year leases. The Rent Guidelines Board, largely composed of Mamdani appointees, approved the freeze, marking a major victory for the mayor’s affordability efforts. Critics, including landlords and real estate groups, warn the policy could harm maintenance and lead to housing deterioration, with legal challenges expected. The move was part of Mamdani’s broader focus on addressing the city’s high housing costs and housing affordability issues.

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