Almost a million properties in New York will not see their rent hiked.
New York, which has some of the priciest rents in America, voted to freeze rents for some properties subject to rent stabilisation by the city, media reported Thursday in a win for leftist Mayor Zohran Mamdani.
Nearly a million properties in the Big Apple subject to so-called "rent stabilisation" will not see their rents hiked, delivering on a campaign promise made by Mamdani, who identifies as a Democratic socialist.
A preliminary vote in May by the rent guidelines panel had endorsed Mamdani's plan to effectively freeze rents on nearly one million New York apartments.
New York City Mayor Zohran Mamdani has succeeded in his plan to effectively freeze rents on nearly one million New York apartments.
