New York landlords have slashed spending on apartment renovations over the last five months, after a new law limited their ability to raise rents
Landlords started 535 fewer renovation projects from July through November in rent-regulated buildings over the same period in 2018, a decline of 44%, according to an analysis by The Wall Street Journal of city Department of Buildings records.
Spending on the renovations fell by $71 million.United States Latest News, United States Headlines
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