The Rent Guidelines Board rejected a rent freeze on Monday night, instead approving historically low hikes for tenants of rent-stabilized housing.
On a 5-4 vote, the board approved increases of 1 percent on one-year leases and 2.75 percent on two-year deals.
Until tonight, the lowest-ever increase approved by the RGB was 2 percent for a year and 4 percent for two.
But the result was a disappointment to tenant advocates who were hoping for a freeze, after years of rising rents, stable owner profits and stagnating tenant incomes–and after Mayor de Blasio called for a freeze and appointed six members of the board.
“This is a huge disappointment. The RGB had an opportunity to begin a course correction to make up for past high increases that have contributed to the affordability crisis, and didn't,” said Katie Goldstein, Executive Director of Tenants & Neighbors, in a statement emailed to reporters moments after the vote.
Public members Carol Shine, David Wenk and Steven Flax
and owner members Sara Williams Willard and Magda Cruz supported the hike. Tenant members Sheila Garcia and Harvey Epstein along with chair Rachel Godsil and public member Cecilia Joza opposed it.