Hundreds of thousands of renters are at risk [dedicated]
From Caribbean Life
| These are the facts: Over the past five years, older rent-stabilized buildings outside of the core of Manhattan have been systematically defunded. The New York City Rent Guidelines Board’s own data suggests that 2024 is likely going to be worse for older stabilized buildings in the outer boroughs. 100% stabilized buildings in the Bronx saw operating income decline by 19%. Roughly half of rent-stabilized apartments have rents that do not cover operating costs. Older rent-stabilized buildings, which provide the majority of affordable housing in New York City, are in severe financial distress The RGB must act. |
