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New York City Approves Stabilized Rent Increases As Apartment Owners ‘Face Significant Challenges’

Rent Guidelines Board Approves 2.75% Increase for One-Year Leases
New York's nearly 1 million rent stabilized apartments will see rents go up 2.75% for one-year leases and 5.25% for two years beginning on or after Oct. 1. (CoStar)
New York's nearly 1 million rent stabilized apartments will see rents go up 2.75% for one-year leases and 5.25% for two years beginning on or after Oct. 1. (CoStar)
CoStar News
June 18, 2024 | 9:10 P.M.

New York City approved annual rent increases for roughly 1 million rent-stabilized apartments for the third consecutive year, as economic pressures continue to affect both landlords and tenants in one of the world’s most expensive cities.

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