Posted on 12/27/2025 5:01:38 AM PST by Libloather
That’s one hell of a markup.
Whoever moves into NYC Mayor-elect Zohran Mamdani’s rent-stabilized apartment in Queens will be shelling out an extra $800 — or 35% — more per month than what the socialist “nepo baby” did, The Post has learned.
The Astoria apartment — which has quietly attracted interest from potential tenants for the past few weeks — is now commanding $3,100 per month while still remaining rent stabilized, sources said.
Mamdani — who’ll be moving into Gracie Mansion with his “aloof” artist wife Rama Duwaji sometime after being sworn in Jan. 1 — caught a break during the seven years he’s rented the one-bedroom Astoria pad, paying about $2,300 because his landlord charged him a much lower rate than what was allowed by law.
The son of millionaire award-nominated filmmaker Mira Nair and tenured Columbia professor Mahmood Mamdani was getting what’s known as a “preferential rent” — a temporary discounted rate landlords sometimes offer on rent-stabilized apartments to attract tenants in softer markets.
But with the Big Apple rental market in shambles and rents at an all-time-high since he moved in, the next renter won’t enjoy that same benefit.
“Isn’t that just the Democratic Socialists of America’s New York in a nutshell?” said NYC Council Minority Leader Joanne Ariola (R-Queens).
“A nepo baby leaves his under-market apartment for a mansion, the price gets jacked up for the next guy, and some ill-conceived legislation forces the landlords to make an off-market listing to avoid the fees ‘progressive’ policies shoved down their throats.”
(Excerpt) Read more at nypost.com ...
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Doesn't sound right.
Low rent seems like a bribe for future favoritism, but 4 authors wouldn’t miss that aspect would they?
“$3,100 per month while still remaining rent stabilized”
I bet the rent would be on the 1500 in a free market. Socialist policies make living unaffordable.
Of course he’s a hypocrite.
He’s a leftist/democrat. It comes with the territory.
It’s what they do. It’s who they are.
Like all Communists, Mandy gets the cherries and his subjects get the pits.
"All people are equal, but some are more equal than others"
“I bet the rent would be on the 1500 in a free market. Socialist policies make living unaffordable.”
That would only be the case if there were no rental control statuses of any kind in NYC.
BECAUSE there are close a million rental units “protected” by rent control of one form or another, and another few hundred thousand in City owned units, the “market” supply - units available at open market rates - is shrunken below what it should be, making the true market rates higher than they would otherwise be.
Because of that the real market rate for Mamdani’s old unit is today - under current circumstances, higher than the $3,100 someone is getting it under rent stabilization. Market rate today is probably closer to $4,000 for a similar unit NOT still under rent stabilization.
While yes, you’d be correct, that minus all rent control laws in NYC the number of units available on the open market would be much higher than today so rents in general would likely be (a) higher than they are at present on rent control conditions, but (b) lower than the market rates today.
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