NYC Rent Guidelines Board approves 2-year rent freeze, fulfilling Mamdani campaign pledge

Tenants in about 1 million rent-stabilized apartments will not see their rents increase for the next two years after New York City’s Rent Guidelines Board approved a first-of-its-kind freeze at an annual hearing Thursday night. The 7-1 vote marks the first two-year rent freeze in the board’s history and fulfills a key campaign pledge from Mayor Zohran Mamdani, who named six of the board’s nine members. The decision applies to rent-stabilized apartments in buildings with six or more units built before 1974, as well as apartments in buildings that receive certain tax breaks or government subsidies. The freeze applies to...