Rent hiked for NYC stabilized apartments

(AP) - The rent is going up for New Yorkers living insome one million rent-stabilized apartments.New York City's Rent Guidelines Board voted Tuesday night toraise

NEW YORK - (AP) - The rent is going up for New Yorkers living insome one million rent-stabilized apartments.

New York City's Rent Guidelines Board voted Tuesday night toraise rents 3 percent on one-year leases and 6 percent on two-yearleases.

A board spokesman says tenants who have rented apartments forsix years or longer will see rents for a one-year lease jump by 3percent or $30 a month, whichever is higher. A two-year lease willincrease the rent by either 6 percent or $60 a month.

Rent Guidelines Board Chairman Marvin Markus says half of thecity's stabilized apartments rent for $925 a month or less.

Esther Wang of the Chinatown Tenants Union says many tenantswalked out of the Manhattan meeting after the board voted down aproposal to freeze rents.

advertisement | advertise on News 12

Trending Video

1 Bronx Sportscast, Jan. 23
VIDEO: Discovery of human remains in freezer shocks 2 VIDEO: Discovery of human remains in freezer shocks neighbors
Two children were struck by a school bus 3 School bus hits 2 children in Mott Haven
Con Edison has offered a few tips you 4 Con Ed offers storm safety tips
Jenny Gutierrez, Hector Quezada and Joel Hernandez were 5 Suspects in fatal restaurant beating appear in court

advertisement | advertise on News 12

Features

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE