New York City’s Rent Guidelines Board held a rare revote on Tuesday morning and decided to amend the proposed range by which rents could be raised for millions of city residents living in rent-stabilized apartments.
To be clear, the revote was not for the final rent increase. That final vote will be held at the end of June.
Here’s what the Rent Guidelines Board decided
The nine-member board, appointed by the mayor, voted to lower the proposed range for two-year lease increases to between 3.75% and 7.75%. That’s down 1% from last month’s preliminary vote, which allowed a range of 4.75% to 7.75%.
Proposed one-year lease hikes remain unchanged at between 1.75% and 4.75%…