WSJ | A Gray/Bloomberg News
A New York City panel approved a rent freeze for roughly one million rent-regulated apartments in a win for Mayor Zohran Mamdani, whose promise to cap housing costs was a signature part of his election campaign. The city’s Rent Guidelines Board voted 7-1 on Thursday for 0% rent increases on one- and two-year leases. They did so over objections from some rent-stabilized landlords who cited the rising cost of insurance, utilities and other expenses as reasons for an increase. The freeze would apply to leases that begin on or after Oct. 1.