The Washington Post reports that small, independent New York City landlords say they are "at their breaking point" under Mayor Zohran Mamdani's tenant-focused housing agenda, which may include a rent freeze affecting nearly 1 million rent-stabilized apartments. Landlords describe rents of $700–$1,500 while average upkeep costs run about $1,300 per unit, and they say limits on post-vacancy rent increases make it difficult to finance major repairs. City data show rent-stabilized units are roughly 40% of rentals, and advocates warn of some 50,000 vacant "ghost" apartments. Mamdani's office did not immediately comment.
Small NYC Landlords Say They're 'At Their Breaking Point' Under Mayor Mamdani's Housing Agenda
The Washington Post claimed that small-scale landlords in New York City are "at their breaking point" under Mayor Zohran Mamdani's housing policies.(Getty Images)
Small, independent landlords across New York City warn they are "at their breaking point" under Mayor Zohran Mamdani's tenant-focused housing agenda, a Washington Post investigation finds. Owners and advocacy groups say a proposed rent freeze for nearly 1 million rent-stabilized apartments and recent rent-regulation changes could make it harder for small landlords to cover operating and renovation costs.
Landlords Describe Financial Strain
Valentina Gojcaj, who owns two rent-stabilized buildings in the Bronx, told The Washington Post she fears she may no longer be able to keep her properties financially viable if tighter tenant protections and limits on post-vacancy rent increases remain in place. "Why is he targeting us? This is my investment and something I expect to retire on," she said.
"What happens to me when I can no longer afford to run these buildings?" — Valentina Gojcaj
Retired transit worker Irving Lee, who inherited an eight-unit rent-stabilized building in Chinatown, said monthly rents of $700 to $1,500 contrast sharply with upkeep costs that average roughly $1,300 per unit. "There are forces in this city that make it extremely difficult for property owners to care for and renovate these buildings," Lee told the outlet.
Scale And Policy Context
Zohran Mamdani, mayor of New York, speaks during a news conference in the Queens borough of New York, on Friday, Jan. 16, 2026.
City data cited in the report show rent-stabilized units account for about 40% of New York City's rental housing, with average rents near $1,600 per month. In response to concerns about landlord abuses, state lawmakers limited how much owners can raise rents after a unit is vacated and renovated. Small-property advocates say those limits have reduced owners' ability to recoup the cost of major repairs and renovations.
Ann Korchak, president of the Small Property Owners of New York, estimates the city has roughly 22,000 buildings with six to ten units each, many owned by local, small-scale landlords. The New York Apartment Association estimates there may be about 50,000 rent-stabilized "ghost apartments" — units left vacant because owners cannot justify renovation costs under current rules.
Political Backdrop
Mamdani won last year's mayoral election campaigning on cost-of-living and tenant-protection measures and has signaled he will pursue an aggressive, tenant-forward agenda. His administration has already held hearings and taken steps to spotlight allegedly abusive landlord practices. Local news outlets say the mayor's office did not immediately respond to requests for comment on the report.
Why It Matters
The debate centers on balancing tenant protections with the financial viability of small landlords who maintain a significant share of the city's rent-stabilized housing stock. Advocates for tenants argue stronger protections are overdue; landlords warn policy choices could lead to deferred maintenance, lost investment in building repairs, and more vacant stabilized units.
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