Mayor Zohran Mamdani is offering struggling landlords an olive branch. The city will be standing up a publicly-backed insurance option aimed at rent-stabilized and affordable housing, City Hall announced Thursday. The insurance program will be capitalized with an unclear amount of city funds, but not directly managed by the city. The program will offer property and liability insurance premiums 20 to 30 percent lower than the existing market, city officials estimate. The initiative seems to be an attempt by Mamdani to make peace with landlords as his promised rent freeze for stabilized apartments is likely just weeks away. The rent […]

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