Business Insights
  • Home
  • Crypto
  • Finance Expert
  • Business
  • Invest News
  • Investing
  • Trading
  • Forex
  • Videos
  • Economy
  • Tech
  • Contact

Archives

  • August 2025
  • July 2025
  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • August 2023
  • January 2023
  • December 2021
  • July 2021
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019

Categories

  • Business
  • Crypto
  • Economy
  • Finance Expert
  • Forex
  • Invest News
  • Investing
  • Tech
  • Trading
  • Uncategorized
  • Videos
Apply Loan
Money Visa
Advertise Us
Money Visa
  • Home
  • Crypto
  • Finance Expert
  • Business
  • Invest News
  • Investing
  • Trading
  • Forex
  • Videos
  • Economy
  • Tech
  • Contact
Cuomo accuses Mamdani of being a 'very rich person,' demands he 'move out immediately' from his rent-stabilized apartment
  • Finance Expert

Cuomo accuses Mamdani of being a ‘very rich person,’ demands he ‘move out immediately’ from his rent-stabilized apartment

  • August 12, 2025
  • Roubens Andy King
Total
0
Shares
0
0
0
Total
0
Shares
Share 0
Tweet 0
Pin it 0

Andrew Cuomo is demanding that his opponent in New York City’s mayoral race, Zohran Mamdani, vacate his rent stabilized apartment, while pushing a longshot proposal that would bar other middle-class renters from accessing much of the city’s housing.

“I am calling on you to move out immediately,” Cuomo wrote in a widely-viewed social media post this weekend, casting Mamdani as “a very rich person” occupying an apartment that could otherwise be used by a homeless family.

The line of attack drew tens of millions of views online and revived a long-standing debate about who should have access to New York’s highly sought-after rent stabilized units, which make up roughly 40% of the city’s rental stock and are currently open to people of all incomes.

It also illustrated the rhetorical lengths that Cuomo is willing to go to as he mounts an independent bid for mayor against Mamdani, a democratic socialist who defeated him handily in the Democratic primary on a platform that centered on affordability and freezing rent on stabilized units.

Mamdani, who earns $143,000 annually as a state legislator, has said he pays $2,300 per month for a one-bedroom apartment in Queens that he shares with his wife — a living situation that Cuomo called “disgusting.”

By contrast, Cuomo, a multimillionaire who previously served as the state’s governor, spends roughly $8,000 monthly on an apartment in Midtown Manhattan that he moved to last year from Westchester County, a wealthy suburb.

In recent weeks, the 67-year-old Cuomo has adopted a more aggressive social media presence, earning both praise and mockery for his use of millennial internet-speak and repeated references to his opponent’s “privilege.” Mamdani’s mother is a successful independent filmmaker and his father is a Columbia University professor.

On Monday, Cuomo went a step further, releasing a formal proposal, which he dubbed “Zohran’s Law,” barring landlords from leasing vacant rent stabilized units to “wealthy tenants,” defined as those who would pay less than 30% of their income toward the existing rent.

The rent regulation program, which caps how much landlords can raise rent each year on roughly 1 million apartments, does not currently include any income restrictions — something opponents have long pushed to change.

While the average rent stabilized household makes $60,000 annually, it is not uncommon for middle- or higher-income New Yorkers to live in the units, which sometimes rent for several thousand dollars per month.

But Cuomo’s idea drew swift skepticism from some housing experts, who noted the cap would, by definition, mean all new tenants of rent stabilized units would give up a substantial portion of their income.

“The idea that we should only have people living in apartments they can’t afford seems to be setting people up for failure,” said Ellen Davidson, a housing attorney at The Legal Aid Society. “It’s not a proposal from somebody who knows anything about the housing market or New York City.”

The Real Estate Board of New York, a landlord group whose members overwhelmingly backed Cuomo in the primary, did not respond to an inquiry about whether they supported the proposal. But in an email, the group’s president, James Whelan, said that the “benefits of rent regulation are not well targeted” and that some form of means testing should be considered.

Under state law, hikes on rent-stabilized units are decided by an appointed board, rather than landlords.

“Rent stabilization has never been means tested because it’s not an affordable housing program, it’s a program about neighborhood stability,” said Davidson, the housing attorney, adding that the proposal would likely present a “bureaucratic nightmare.”

A spokesperson for Cuomo’s campaign, Rich Azzopardi, said in a text message that “the ultra wealthy and privileged should not be taking advantage of a program meant to aide working New Yorkers,” adding that the income threshold standards would fall under the same system that governs the city’s other programs for low-income housing.

Mamdani’s spokesperson, Dora Pekec, said the proposal proved that Cuomo was both desperate and out of touch.

“While Cuomo cares only for the well-being of his Republican donors, Zohran believes city government’s job is to guarantee a life of dignity, not determine who is worth one,” she added.

Introducing the 2025 Fortune Global 500, the definitive ranking of the biggest companies in the world. Explore this year's list.
Total
0
Shares
Share 0
Tweet 0
Pin it 0
Roubens Andy King

Previous Article
US Navy Awards Hyliion (HYLN) .5 Million Contract for Multi-Megawatt Power Module
  • Business

US Navy Awards Hyliion (HYLN) $1.5 Million Contract for Multi-Megawatt Power Module

  • August 12, 2025
  • Roubens Andy King
Read More
Next Article
Bitcoin Pulls Back From 2K, Is the Rally Losing Steam or Just Pausing?
  • Forex

Bitcoin Pulls Back From $122K, Is the Rally Losing Steam or Just Pausing?

  • August 12, 2025
  • Roubens Andy King
Read More
You May Also Like
Spirit Airlines files for bankruptcy again, has this to say about its Labor Day flights
Read More
  • Finance Expert

Spirit Airlines files for bankruptcy again, has this to say about its Labor Day flights

  • Roubens Andy King
  • August 29, 2025
Analyst Report: Dell Technologies Inc
Read More
  • Finance Expert

Analyst Report: Dell Technologies Inc

  • Roubens Andy King
  • August 29, 2025
Atlanta becomes largest U.S. metro without a printed daily newspaper as Journal-Constitution goes digital
Read More
  • Finance Expert

Atlanta becomes largest U.S. metro without a printed daily newspaper as Journal-Constitution goes digital

  • Roubens Andy King
  • August 29, 2025
Alibaba’s cloud-computing business is thriving, and it has a new AI chip in the works. The stock is rising.
Read More
  • Finance Expert

Alibaba’s cloud-computing business is thriving, and it has a new AI chip in the works. The stock is rising.

  • Roubens Andy King
  • August 29, 2025
SSDI Recipient Fears Losing Benefits After ,500 Insurance Payout From Hitting A Deer
Read More
  • Finance Expert

SSDI Recipient Fears Losing Benefits After $1,500 Insurance Payout From Hitting A Deer

  • Roubens Andy King
  • August 29, 2025
Verizon Communications files mixed securities shelf
Read More
  • Finance Expert

Verizon Communications files mixed securities shelf

  • Roubens Andy King
  • August 29, 2025
I’m a CEO who bid for Google’s Chrome browser. Even if we don’t win, here’s why this is a fork in the road for digital capitalism 
Read More
  • Finance Expert

I’m a CEO who bid for Google’s Chrome browser. Even if we don’t win, here’s why this is a fork in the road for digital capitalism 

  • Roubens Andy King
  • August 29, 2025
‘I’m asking for a friend’: Will the IRS write off ,000 lost in a romance phishing scam?
Read More
  • Finance Expert

‘I’m asking for a friend’: Will the IRS write off $60,000 lost in a romance phishing scam?

  • Roubens Andy King
  • August 29, 2025

Recent Posts

  • Ethereum creeps higher in OKX balances as Bitcoin’s grip slips again
  • You Know Bitmine Has Been Buying Ethereum, But Can You Believe How Much ETH The Company Now Holds?
  • PureCycle (PCT) Leaps 9.3% as New Certification Raises Rosy Prospects
  • Micro-Retirement in Singapore: How to Make It Work For You Financially
  • Dell, Ulta Shares Drop; Autodesk Stock Soars
Featured Posts
  • Ethereum creeps higher in OKX balances as Bitcoin’s grip slips again 1
    Ethereum creeps higher in OKX balances as Bitcoin’s grip slips again
    • August 29, 2025
  • You Know Bitmine Has Been Buying Ethereum, But Can You Believe How Much ETH The Company Now Holds? 2
    You Know Bitmine Has Been Buying Ethereum, But Can You Believe How Much ETH The Company Now Holds?
    • August 29, 2025
  • PureCycle (PCT) Leaps 9.3% as New Certification Raises Rosy Prospects 3
    PureCycle (PCT) Leaps 9.3% as New Certification Raises Rosy Prospects
    • August 29, 2025
  • Micro-Retirement in Singapore: How to Make It Work For You Financially 4
    Micro-Retirement in Singapore: How to Make It Work For You Financially
    • August 29, 2025
  • Dell, Ulta Shares Drop; Autodesk Stock Soars 5
    Dell, Ulta Shares Drop; Autodesk Stock Soars
    • August 29, 2025
Recent Posts
  • Amazon is selling 'the most comfortable' sweatpants for only
    Amazon is selling 'the most comfortable' sweatpants for only $10
    • August 29, 2025
  • Spotlight on AI at TechCrunch Disrupt: Don’t miss these sessions backed by JetBrains and Greenfield
    Spotlight on AI at TechCrunch Disrupt: Don’t miss these sessions backed by JetBrains and Greenfield
    • August 29, 2025
  • Ethereum Supply Shock? Binance ETH Reserves Dip As Demand Gains Traction
    Ethereum Supply Shock? Binance ETH Reserves Dip As Demand Gains Traction
    • August 29, 2025
Categories
  • Business (1,956)
  • Crypto (1,351)
  • Economy (115)
  • Finance Expert (1,616)
  • Forex (1,349)
  • Invest News (2,241)
  • Investing (1,371)
  • Tech (1,940)
  • Trading (1,925)
  • Uncategorized (2)
  • Videos (803)

Subscribe

Subscribe now to our newsletter

Money Visa
  • Privacy Policy
  • DMCA
  • Terms of Use
Money & Invest Advices

Input your search keywords and press Enter.