Manhattan rents SKYROCKET to record-high of almost $7k a month in Mamdani’s NYC

Manhattan rents SKYROCKET to record-high of almost $7k a month in Mamdani’s NYC

"While the freeze may be good news for rent stabilized tenants, the bad news for market rate renters."

Mamdani Is Making NYC Unaffordable

Chief operating officer of the Corcoran Group, Gary Malin observes, “Misguided New York City and State legislation, like ‘good cause’ eviction, the FARE Act, and the 2019 rent laws, have in large part created this perfect storm for sky-high rents.” The prices are high because the housing supply is limited, not because landlords in the city are ripping people off.