NYC Rent Stabilized Apartment Prices Go Up 2.75% Tuesday: Report

NEW YORK CITY — The prices of rent stabilized apartments in the city are now higher beginning Tuesday.

The landlord will now be able to raise payments by 2.75 percent on one-year leases and 5.25 percent on two-year leases, according to a report from Gothamist.

Beginning on Oct. 1, one million rent-stabilized apartments will see price increases.

The Rent Guidelines Board approved the price increases back in June, according to Gothamist.

The subject led to protests from tenant and housing rights advocates.