Rent's Going Up for NYC Stabilized Apartments

Thursday, Jun 24, 2010  |  Updated 11:46 PM EDT
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Rent's Going Up for NYC Stabilized Apartments

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The rent is going up for New Yorkers living in some one million rent-stabilized apartments.

New York City's Rent Guidelines Board voted Thursday night to raise rents by 2.25 percent on one-year leases and 4.5 percent on
two-year leases.

Tenants argued for a rent freeze, saying the hikes aren't justified, but building owners complained of getting socked with
property taxes and double-digit water and sewer rate hikes.

Manhattan Borough President Scott Stringer warned that the City is turning its affordable housing stock into a ``once-affordable
memory.''

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