Source: New York Post
New Yorkers living in the city’s 1. 1 million market-rate apartments are about to get stuck with the bill for the city’s rent freeze, according to the only member of New York City’s Rent Guidelines Board who is an economist and voted “no” on the freeze. Arpit Gupta, who was appointed to the board by former Mayor Eric Adams, said landlords will likely jack up rents on market-rate units, as the rent-stabilized market stalls with tenants incentivized to stay put and owners forced to pull vacant units off the market.
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