People looking to rent in New York’s rent-stabilized apartments might face some surprises after Mayor-elect Zoran Mamdani’s visit to Gracie Mansion, according to reports.
Apartments in Queens are reportedly going for $800 a month, which is 35% more than what Mamdani himself paid.
Officials mentioned that while the Astoria apartments are rent-regulated, they are listed at $3,100 monthly.
Mamdani, who will soon take residence at Gracie Mansion with his artist wife Rama Dhwaj after his inauguration on January 1, has paused his seven-year rental of a one-bedroom Astoria apartment where he originally paid around $2,300—much less than the typical rate.
The son of influential filmmaker Meera Nair and Columbia professor Mahmoud Mamdani benefited from what’s known as “preferential rent,” a practice where landlords reduce rents on stabilizing apartments to attract tenants in a declining market.
He revealed his intention to relinquish the rental units while speaking to a newspaper outside his 35th Street apartment last week.
One critic has pointed out that Mamdani enjoys advantages not available to the average New Yorker, labeling him a “nepo baby”—suggesting his success is primarily due to family connections.
“Isn’t that basically the epitome of the New York Democratic Socialists of America?” quipped Joan Arriola, a Queens Republican and the City Council Minority Leader.
She added, “When a Nepo baby vacates an affordable apartment for a mansion, it drives up costs for the next tenant. And due to some misguided laws, landlords feel they must list properties off-market to sidestep fees attached to ‘progressive’ policies.”
Mamdani campaigned on a promise to halt rent increases in order to make living in New York more “affordable.”
His apartment is currently being rented “off the market,” a practice that has become rather common since the implementation of the city’s new Apartment Rental Fairness (FARE) law last June.
The legislation includes a contentious ban on agent fees, which Mamdani himself advocated for as a state legislator, arguing such fees are incorporated into rents and lead to inflated prices.
This “off market” status means these rentals are not publicly listed but are available through private networks facilitated by agents.
Many brokers are reportedly keeping exclusive listings off the market as a strategy to bypass the new ban.
During his campaign, Mamdani faced backlash for living in housing that many would consider unaffordable while accepting a reduced salary from his position as a Queens borough councilman.
The socialist defended himself, saying he moved into that unit in 2018, when his income was around $47,000 as a foreclosure prevention housing counselor.
“This is precisely what frustrates New Yorkers,” commented Robert Holden, a conservative Democratic City Councilman from Queens. “Politicians benefit from housing deals while enforcing policies that drive up rents for others and remove properties from the market.”
He added, “The narrative never changes: wealthy, connected individuals don’t experience the consequences of the policies they push. If Mr. Mamdani’s concept of affordable housing only applies to him, then it’s not truly affordable. That’s hypocrisy.”
