New York City Mayor Zohran Mamdani is expected to announce on Tuesday that some distressed landlords will be exempt from his proposed rent freeze, according to a report by The Wall Street Journal.
The report said eligible owners of certain rent-stabilized apartments would be allowed to impose a one-time rent increase on vacant units, even if a broader rent freeze is approved later this year.
The increases would reportedly be decided on a case-by-case basis and could amount to hundreds of dollars per month for some units.
The exemption would apply to landlords of certain city-financed and city-regulated affordable housing units, many of whom have argued that rising costs and debt burdens have made the proposed rent freeze financially difficult.
"The reality is, they will all remain affordable," Dina Levy, commissioner of the city's Housing Preservation and Development Department, told The Wall Street Journal.
The report said roughly 300,000 apartments financed through city housing agencies could potentially qualify for the program.
Mamdani's office did not immediately respond to MarketDash's request for comment.






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