The Real Deal New York

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
June 25, 2014 08:00AM

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