NYC board rejects rent freeze - FOX 35 News Orlando

1-year lease: 1%; 2-year: 2.75%

NYC board rejects rent freeze

Posted: Updated:
NEW YORK (MYFOXNY) - The New York City Rent Guidelines Board approved modest rent increases for stabilized apartments on Monday, rejecting calls for a rent freeze.

The board settled on a 1-percent hike on one-year leases and a 2.75-percent hike on two-year leases on about 1 million units across the city.

The increases will apply to leases that are signed on and after Oct. 1, 2014.

Mayor Bill de Blasio and Council Speaker Melissa Mark-Viverito had called on the board to keep rents at their current level for a year to give New Yorkers a break.

"While Mayor de Blasio believed that a one-year freeze and a 3 percent raise on two-year leases was the best option for New Yorkers struggling in the affordability crisis, the administration is heartened that the RGB heeded calls to keep any increase at a historic low," said Wiley Norvell, a City Hall spokesman.

Landlords wanted a much higher hike to cover increased expenses. They asked for a 6-percent hike on one-year leases and a 9-percent increase for two-year leases.
  • Local NewsLocal NewsMore>>

  • Some StubHub accounts breached

    Some StubHub accounts breached

    Wednesday, July 23 2014 4:34 PM EDT2014-07-23 20:34:20 GMT
    Six people were indicted Wednesday in an international ring that managed to take over more than 1,000 StubHub users' accounts and fraudulently buy tickets to such prime events as Jay-Z and Elton John concerts, a New York Yankees-Boston Red Sox game and Broadway shows like "The Book of Mormon," the Manhattan district attorney said. Manhattan District Attorney Cyrus R. Vance Jr. said the thieves would then resell the tickets and split up the proceeds.
    Six people were indicted Wednesday in an international ring that managed to take over more than 1,000 StubHub users' accounts and fraudulently buy tickets to such prime events as Jay-Z and Elton John concerts, a New York Yankees-Boston Red Sox game and Broadway shows like "The Book of Mormon," the Manhattan district attorney said. Manhattan District Attorney Cyrus R. Vance Jr. said the thieves would then resell the tickets and split up the proceeds.
  • FAA extends ban on U.S. flights to Tel Aviv

    FAA extends ban on U.S. flights to Tel Aviv

    Wednesday, July 23 2014 4:18 PM EDT2014-07-23 20:18:55 GMT
    The Federal Aviation Administration has extended the ban on U.S. carriers from flying to Tel Aviv for another 24 hours. Word came from the FAA at about 12:40 pm. on Wednesday, 24 hours after it issued its initial ban to Israel and following a rocket launch from Gaza that landed near the Ben Gurion airport.
    The Federal Aviation Administration has extended the ban on U.S. carriers from flying to Tel Aviv for another 24 hours. Word came from the FAA at about 12:40 pm. on Wednesday, 24 hours after it issued its initial ban to Israel and following a rocket launch from Gaza that landed near the Ben Gurion airport.
  • Bloomberg flies to Israel in show of support

    Bloomberg flies to Israel in show of support

    Wednesday, July 23 2014 4:12 PM EDT2014-07-23 20:12:27 GMT
    Former New York Mayor Michael Bloomberg flew to Israel via a commercial El Al flight despite an FAA ban on U.S.-based airlines flying to Tel Aviv. Israeli Prime Minister Benjamin Netanyahu met Bloomberg on the tarmac outside the El Al jet Wednesday at Ben Gurion International Airport.
    Former New York Mayor Michael Bloomberg flew to Israel via a commercial El Al flight despite an FAA ban on U.S.-based airlines flying to Tel Aviv. Israeli Prime Minister Benjamin Netanyahu met Bloomberg on the tarmac outside the El Al jet Wednesday at Ben Gurion International Airport.
Powered by WorldNow

35 Skyline Drive
Lake Mary, FL 32746

Phone: (407) 644-3535
News Tips: (866) 55-FOX35

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices