Mayor de Blasio on rent hike: not surprised, not happy

"I was trying to make very clear what I thought was the right way to go," he says

TRD New York /
Jun.June 25, 2014 08:00 AM

In response to the city Rent Guidelines Board’s historic approval of a 1 percent increase this year on rents for stabilized apartments, Mayor Bill de Blasio said he was disappointed.

“It was not a surprise to me that there would be a difference of opinion and we knew it would be a close vote either way you slice it,” the mayor said at a news conference yesterday. “But I was trying to make very clear what I thought was the right way to go.”

Like tenant advocates, de Blasio was in favor of a rent freeze. He appointed six of the nine members of the board, including Stephen Flax, who cast the critical vote for the rent hike. The vote was 5-to-4.

The mayor did not comment on whether he would replace any of the board members.

Others in the real estate industry were also unhappy with the outcome.

Frank Ricci, president of the Rent Stabilization Association, which represents landlords, described the historically low hike as “totally inadequate,” as The Real Deal reported. [NYDN] and [Crain’s]Mark Maurer

Related Articles

Blackstone CEO Steven Schwartzman and Stuyvesant Town (Credit: Getty Images)

After authorities vowed review of Stuy Town deal, Blackstone changes course on vacancies

Real Capital Analytics data showed that New York’s multifamily market had a very slow July. (Credit: iStock)

New NYC rent law “beginning to shut down investment”

Some landlords say they plan to close the door to vacant apartments and wait for the laws to change (Credit: iStock)

Creative ways NYC landlords are getting around the new rent rules

A New York court’s greenlight of a class action against Big City Realty could change the dynamic of class action suits. (Credit: iStock)

“Nightmare” for landlords: Court OK’s class action against Harlem owner

Jay Martin, James Whelan and Joe Strasburg

Rent-pocalypse 2.0: Real estate industry reacts to tenant demands

Cases to challenge tenant residency have declined since June (Credit: iStock)

More rent-law fallout: Landlords back off “absentee” tenants

10 Hanover Square (Credit: Google Maps)

FiDi landlord violated rent stabilization regs for years: lawsuit

Here’s why landlords don’t hate California’s rent control bill