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Zohran isn't proposing putting any new units under rent control (really rent stabilization), only temporarily halting raises to rents for existing stabilized un
by tmvphil 11mo ago
Zohran isn't proposing putting any new units under rent control (really rent stabilization), only temporarily halting raises to rents for existing stabilized units. This will make it harder for the city to attract new buildings to join rent stabilization in the future, but will benefit existing habitants. It won't have any effect on the ability to profitably develop market rate units at all.
- silexia 11mo agoProperty developer here. I have zero faith that NYC would not put rent control on new units in the future. I will invest nothing in NYC and will tell every other developer I know to avoid it like the plague.
- lisdexan 11mo agoIf NYC actually makes it easy to build there's practically infinity investment available. Sure dude, nobody will build >1M condos because you told them not to.
- suzdude 11mo agoMamdani is not advocating for it. His goals include attempts to make development cheaper. You sound like a doom sayer who'd stop investing in the USA because the current admin has made it an unsafe environment.