New New York rent-control bill would drive out small landlords, help developersBy Steve Cuozzo
March 20, 2023
Socialist-minded legislators in Albany won’t quit until they bankrupt every apartment-building landlord in New York City — and make the housing crisis even worse than it is.
A bill now in the Legislature, sneakily disguised as an eviction-prevention measure, would impose rent controls on market-rate buildings for the first time.
The reversal of generations-old policy would drive small, immigrant and minority-group landlords out of business and leave their buildings at the mercy of well-heeled real-estate companies hoping to demolish them for new construction.
“This bill is universal rent control,” warned Sharon Redhead, whose family emigrated from Grenada in the Caribbean and who owns five small buildings in Brownsville and East Flatbush, Brooklyn. “The sponsors don’t believe in free enterprise.”
“If this bill comes to pass, a lot of small housing providers will have to sell,” said Cynthia Brooks, who owns a two-story, four-family brick house at 2181 Strauss Street in Brownsville.
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Source:
https://nypost.com/2023/03/20/new-ny-rent-control-bill-would-drive-out-small-landlords/
