Cheers erupt as rent guidelines board votes to enact freeze on 1M stabilized units

The New York City Rent Guidelines Board approved Mayor Zohran Mamdani’s key campaign promise to “freeze the rent” on Thursday — in a move landlord advocates slammed as “an absolute farce.” The board passed a rent freeze on both one-year and two-year leases for the Big Apple’s roughly 1 million rent-stabilized units in a 7-1 vote. Arpit Gupta, an appointee of Mamdani’s predecessor Eric Adams, was the one no vote.