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NYC’s Rent Guidelines Board walks back hike on stabilized apartments in rare revote

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The Rent Guidelines Board on Tuesday scaled back its planned hikes on nearly 1 million rent-stabilized units — in a rare reversal that landlords said will leave New York City’s aging buildings in disrepair. The board’s re-vote shaved down the proposed range of increases for two-year leases to 3.75% to 7.75%, down from the minimum of 4.75% that…

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