City Hall proposes a rent freeze for stabilized villager homes
Every one- and two-family record in Mill Bergen and Long Island zoned R1 to R3 would hold its rent for two years. Landlords are not pleased.
The Mayor sent the Rent Guidelines Board a one-page proposal on Tuesday: freeze rents for two years on every stabilized villager home — the A- and B-class records on the Registry zoned R1 through R3, mostly the Soundview Avenue houses on Long Island and the Mill Street and Church Avenue homes in Mill Bergen.
About forty records qualify. Their owners are a mix of villagers who live in them and the city's two land bankers, New A Real Estate and Silvernine Properties, which between them hold eight of the stabilized lots and most of the vacant ones next door.
'Nobody should have to leave Mill Bergen because a spreadsheet said so,' the Mayor said. New A Real Estate said the freeze 'prices the next building out of existence' and pointed at its three Lexington Avenue lots, which are not stabilized, not residential and not in the proposal.
The NASE reacted as the NASE does. NARE fell, SLVR fell less, and Triangle Equities — which owns retail, not homes — did not move. The Rent Guidelines Board votes in June. The Well has already voted.
Market impact
NASE- NARENew A Real Estate−3.5%224.17 +1.75%
- SLVRSilvernine Properties−1.5%157.53 +1.20%
The story’s move on each stock. The NASE prices it in fast — about 74% of it within the hour of publication. 40% of the shock is permanent; the other 60% fades with a 10-day half-life, so 70% of the move is still in the price 10 days later. Right: the price now and today’s change.
More from Press Office
All Press Office stories →- Hochul Calls for Public Housing Bed Removals at Historic First Avenue TowerReal estate · Sep 30, 2026
- TWO DEAD AS CITYWIDE SKYSCRAPER EVICTIONS TURN VIOLENTReal estate · Sep 29, 2026
- The beach line goes electric: V Beach in under ten minutes, now without the smokeTourism · Sep 25, 2026
- New A and North C sign a compact to bring back the early rail linesTransit · Sep 21, 2026
Related coverage
Governor Hochul rides the Metro to City Hall and pledges state money for Atlantic Terminal
The State of New A will match the toll revenue going into the Downtown New BK dig. The Governor also fixed, personally, one turnstile.
Kings Plaza opens in Mill Bergen: New A's largest mall, a four-story garage and a new bus terminal on Avenue U
Begun in early 2019 and finished this fall, BK-0026 gives New BK's quiet side the shops, the parking and the bus connection it has asked for for years.
The pump next door: Church Avenue's OP Gas station fears Kings Plaza will price it out of Mill Bergen
The mall brought a garage, a bus terminal and new money to New BK's quiet side. The one-floor station down the road says it may not survive the rent that comes with them.