March 31, 2017
New York’s rent freeze for rent-stabilized apartments is still around, thanks to the New York State Supreme Court. The freeze was instituted by the Rent Guidelines Board in 2015 and remained in place in 2016.
“Working people have beaten the landlord lobby,” said New York City Mayor Bill de Blasio. “Despite attempts to overturn the recent rent freeze, a court has ruled the Rent Guidelines Board was correct in its decision. The rent freeze stays, and more than two million people in rent-regulated apartments can breathe a sigh of relief.
Average rents have been falling among New York City apartments, as property managers compete for residents amid a flood of new unit deliveries.
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