New York City landlords are challenging the City’s first two-year rent freeze for regulated apartments, arguing the decision could make it harder for owners to maintain buildings as costs continue to rise.
The lawsuit, filed Wednesday by a group of small property owners, targets the Rent Guidelines Board’s June decision to keep rents unchanged for roughly 1 million rent-stabilized apartments.
The owners claim the board ignored its own research and acted to fulfill Mayor Zohran Mamdani’s campaign promise to “freeze the rent.”