Few things are as coveted in New York City as a rent-stabilized apartment. Getting one can feel like securing a life jacket when surging rents are drowning everyone else.
Assemblyman Zohran Mamdani, the Democratic nominee for mayor, has one — a $2,300 one-bedroom in Astoria, Queens, he said. In recent days, one of his rivals, former Gov. Andrew M. Cuomo, has begun attacking him for it.
“Move out immediately and give your affordable housing back to an unhoused family,” Mr. Cuomo wrote on Friday in a social media post, referring to Mr. Mamdani and his wife as “rich people who don’t need it.” On Sunday, the former governor said he would propose a “Zohran’s law” that would shut many higher earners out of rent-stabilized housing.
Mr. Mamdani said at a news conference on Tuesday that the proposal showed Mr. Cuomo’s “petty vindictiveness” against him and would end up hurting New Yorkers.
Mr. Cuomo’s attack and the ensuing bickering reflect a longstanding debate over who should be allowed to benefit from rent stabilization, and highlight some common misconceptions about the program. Almost one million apartments in New York City are rent stabilized — close to half of all rental units — and some two million people live in those homes.
While most of those renters don’t make as much as Mr. Mamdani, who earns $142,000 as a lawmaker, he is not an outlier: About 16 percent of rent-stabilized households earn at least $150,000, according to an analysis of city data by the Citizens Budget Commission, a nonprofit watchdog.
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The post What Is Rent Stabilization, and Why Is It an Issue in the Mayor’s Race? appeared first on New York Times.
