The lone Rent Guidelines Board member to vote against Thursday night’s rent freeze said Friday that he saw no interference from Mayor Zohran Mamdani’s administration in the board’s decision, pushing back on part of a resigned owner representative’s allegations, but warned that repeated freezes without cost relief could strain the city’s aging rent-stabilized housing stock.
Arpit Gupta, an associate professor of finance at NYU Stern and a public member of the RGB, made the comments during a June 26 Vital City forum, less than 24 hours after the board approved 0% rent increases for one-year and two-year leases on rent-stabilized apartments and lofts.
