Steve Forbes: Mamdani's Socialist Rent-control Puts New York On The Road To Housing RuinBrownstone apartments in Manhattan, New York City, on July 6, 2024. "I don't know where they're getting 12% from," Bonanno said, responding to remarks made Friday by New York City Democratic Socialists of America co-Chair Gustavo Gordillo. Tur also disputed Gordillo's comments, arguing they were not made in reference to rent-stabilized properties, which he and Bonanno both own. "We hope we could stay in New York City and maybe invest in non-rent-stabilized properties, but if not, we'll have to just sell and purchase properties in other states." Original article source: New York City landlords warn American dream is slipping away under socialist rent policies