A Measured Path Forward for NYC Renters and Providers
The Rent Guidelines Board’s recent decision to approve a 3% increase for one-year and 4.5% for two-year rent-stabilized leases marks a crucial step toward balancing tenant protections with the financial realities of property stewardship. Albert Dweck, founder of Duke Properties, supports the move as a measured and responsible approach to housing policy in New York City.
“This decision helps stabilize the city’s housing ecosystem without putting unnecessary strain on renters or owners,” said Dweck. “It’s about ensuring livable, quality housing today—and decades from now.”
Supporting Tenants While Preserving Buildings
As the city recovers from inflationary headwinds and higher building operating costs—from insurance to heating fuel to compliance—Dweck believes the rent board’s adjustment will help preserve aging infrastructure, maintain safety, and protect tenant rights.
“Every unit of stabilized housing is a long-term commitment,” Dweck explained. “Reasonable rent adjustments allow property owners to reinvest in repairs, security, energy upgrades, and services that matter to tenants.”
Commitment to Affordability and Transparency
Duke Properties has long advocated for responsible ownership practices, prioritizing respectful tenant relations, transparency, and fair maintenance.
“Stable housing doesn’t happen by accident—it requires collaboration between policymakers, owners, and residents,” said Dweck. “This year’s modest increase demonstrates that rent regulation can work for everyone when guided by data, not politics.”
Rent Guidelines: Looking Ahead with Optimism
As housing affordability remains top of mind for New Yorkers, Dweck calls for continued dialogue among stakeholders and creative solutions like:
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Incentives for green building retrofits
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Public-private partnerships for new affordable developments
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Streamlined programs to preserve rent-stabilized units
“Together, we can build a housing market that is compassionate, durable, and dynamic,” Dweck affirmed. “Duke Properties remains committed to that vision—for our residents and for New York’s future.”