Bronx co-op residents rip Mamdani for over 30% rent spike despite ‘affordable housing’ promises
Residents of Tracey Towers in The Bronx are outraged over a proposed 30.59% rent increase over four years, contradicting Mayor Mamdani's promises of affordable housing. The increase is intended to cover mortgage and operating costs, but tenants express frustration over affordability. Many residents feel betrayed by the administration's failure to deliver on its pro-tenant commitments.
- ▪The Mamdani administration plans to raise rents at Tracey Towers by 30.59% over four years.
- ▪Residents voiced their anger during a tenant meeting, questioning the affordability of housing under the current administration.
- ▪The rent increase will start with a 15% hike next year, followed by smaller increases in the subsequent years.
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Metro exclusive Bronx co-op residents rip Mamdani for over 30% rent spike despite ‘affordable housing’ promises By Hannah Fierick and Reuven Fenton Published June 4, 2026, 6:11 p.m. ET See more of our coverage in your search results. Add The New York Post on Google The Mamdani administration is raising the rent on a city-supervised co-op in The Bronx by more than 30% — angering residents who blasted the mayor over his affordable housing promises, The Post has learned. Residents of Tracey Towers — an 871-unit Mitchell-Lama development serving middle- and moderate-income families — were told during a Wednesday tenant meeting that their rents would go up by 30.59% over the next four years.
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