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Mayor Says Freeze, Owners Say Raise: A Battle Over Rent in Post-COVID New York

The Real Estate Board of New York is calling for a minimum of a 2.4% increase on rent-stabilized rents due to the financial burden COVID-19 has placed on property owners.

(Photo: iStock)

Revised 5/7/2020

Rent has been on many a New Yorker’s mind as the COVID-19 pandemic has grown in strength. New York City Mayor Bill de Blasio has called for rents to be frozen, and tenant advocates are urging a rent rollback. Reps. Alexandria Ocasio-Cortez (Queens, Bronx) and Grace Meng (Queens) have authored a letter to House and Senate leaders on both sides of the aisle, advocating for the cancellation of rent and mortgage payments “for the duration of the pandemic.”

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Richard Binder

Richard Binder

Richard Binder, based in New York, is part of the social media team at ALM. He is also a 2014 recipient of the ASPBE Award for Excellence in the Humorous/Fun Department.

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