Rents to rise for more than a million New Yorkers in rent stabilized apartments
CNN
The NYC Rent Guidelines Board (RGB) has given the green light to allow landlords in New York City to hike rents on more than one million rent stabilized apartments.
The RGB, which regulates rent stabilized apartments in Manhattan, voted 5 to 4 on Tuesday to approve raising rates on one-year leases by 3.25% and by 5% on two-year leases.
The move comes as rents in New York City hit a record high in May for the fourth consecutive month. Median rent for an apartment in Manhattan climbed to $4,000 a month in May, surging 25% from a year ago, according to a monthly report from brokerage firm Douglas Elliman and Miller Samuel Real Estate Appraisers and Consultants.
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Supreme Court majority appears skeptical of allowing Holocaust survivors to sue Hungary in US courts
A majority of the Supreme Court on Tuesday appeared skeptical that Holocaust victims and their families are permitted to haul Hungary into American courts to recover property stolen during World War II, with several justices fearing that would open the United States up to a flood of similar litigation from abroad.