An NYC Landlord facing an annual property tax bill of $35,000 for his buildings has spoken out against the rent freeze. The freeze was enacted under New York City Mayor Zohran Mamdani.
A video originally posted by hl_dynasty on Instagram was reposted on X by @WallStreetApes. It featured a landlord speaking out against the rent freeze and how it specifically affected him.
The NYC man told reporters from the video that owning buildings or apartments was a “business.” He said, “People don’t get it, this is a business. It’s not a choice that you think, this is for free.”
He described the financial pressure of the rent freeze, citing his annual property tax bill. The man claimed to be the owner of a small building, for which he pays $35,000 of tax annually.
Dividing that annual tax among his three apartments, he said, comes to roughly $1,000 per unit per month. Because of the situation with taxes, he claimed he had to raise the rents for his tenants twice.
Lastly, he expressed his concern and frustrations over the rising cost of taxes and wonders about how much he’d have to pay to maintain his apartments.
What is The Rent Freeze About?
According to reports by Time Magazine, the rent freeze campaigned and carried out by Mayor Mamdani “freezes” the increase of rent for two years. This is applicable for rent-stabilized apartments in New York.
It covers both one year and two year leases for people living in these particular housing units. The move was approved by the Rent Guidelines Board in a 7-1 vote.
And is effective from October 1, 2026 and is annulled on September 30, 2026. Whether the freeze will be extended beyond September 2028 has not been determined.
According to the publication, it’s a part of Mamdani’s affordable housing campaign. While many tenants appear to have some relief, landlords feel conflicted. Many have spoken up against the initiative, even on the internet.
The Internet Sided With the NYC Landlord
Since the video was shared on X, it has been viewed by over 376,000 people on the internet. While some critiqued the landlord’s perspective, Several commenters backed the landlord.
Users specifically agreed with the landlord’s perspective on the expenses as a result of the rent freeze and property tax. The user said, “The rent freeze, coupled with increased property taxes, is specifically designed to force landlords to sell rental properties.”
Another commented on Mayor Mamdani’s goal with affordable housing, assuming, “The Zohran’s goal is not to rent cheaper or affordable in NY, but to force foreclosures on landlords…”
One more added, “It’s his plan to drive out private landlords & make it so only the city can buy the property at a reduced price, so he can rent it out…”
Editor’s Note: The details mentioned above are a reflection of the videos shared by @hl_dynasty on Instagram and @WallStreetApes on X. The Daily Dot was unable to independently verify these claims.
