Many NYC property owners are angry and confused after they received a notice from the city stating they may owe Mayor Mamdani's 'pied-à-terre tax.'
This year, the Rent Guidelines Board's first vote, called for a 0-2% rent hike for one-year leases, and a 0-4% for two-year leases.
Members of the board submitted seven "yes" votes, one "no," and one abstention, for a 0-2% increase for one-year leases, and 0-4% for two-year leases.
Mayor Mamdani said the city won a $31 million settlement against the owners of Robert Fulton Terrace and Fordham Towers.
A new luxury residential tower in Manhattan is catching heat from some people in the neighborhood who say it's blocking their view of the iconic Empire State Building.
The board is expected to hold a preliminary vote on rent increases in two weeks, followed by a final vote in June.