{"id":302250,"date":"2026-07-21T22:04:19","date_gmt":"2026-07-21T22:04:19","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/302250\/"},"modified":"2026-07-21T22:04:19","modified_gmt":"2026-07-21T22:04:19","slug":"new-york-city-landlords-warn-american-dream-is-slipping-away-under-socialist-rent-policies","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/302250\/","title":{"rendered":"New York City landlords warn American dream is slipping away under socialist rent policies"},"content":{"rendered":"

Democratic Socialists’ calls to freeze rents and reject double-digit investment returns for landlords are fueling fears among some New York City<\/a> property owners, who say years of rising costs and restrictive housing policies<\/a> are pushing family-run businesses to the brink.<\/p>\n

“It shows how flawed the system is in its entirety and how inefficient everything is here,” New York landlord Jose Tur told Fox News Tuesday.<\/p>\n

Tur, whose late grandfather spent decades building the family’s New York real estate business after emigrating from Cuba<\/a>, said the debate over landlord profits overlooks the hardships facing many small property owners.<\/p>\n

Nyc Rent Board Dissenter Warns Mamdani-backed Freeze Could Hurt Affordable Housing Over Time: ‘Slow Burn’<\/a><\/p>\n

\"DSA<\/p>\n

Left, members of the Democratic Socialists of America gather outside a Trump-owned building during a May Day rally in New York City in 2019. Right, Gustavo Gordillo sits in studio on “The Story With Martha MacCallum.”<\/p>\n

He recalled how his grandfather, who purchased his first apartment building in 1979, spent decades growing the family business before he was reportedly mugged at gunpoint by a tenant who had not paid rent in five years. Tur said his grandfather suffered a stroke and died two weeks later at age 99.<\/p>\n

Fellow New York landlord Natalia Bonanno also relayed her family’s struggle amid what she characterized as growing attacks from the far left: mounting operating costs that have made it increasingly difficult to keep rent-stabilized buildings financially viable.<\/p>\n

Read On The Fox News App<\/a><\/p>\n

She told “America’s Newsroom” that her father came to the U.S. as an immigrant with a dream. He became the first in his family to earn a college degree and later became an engineer before deciding he wanted to own property.<\/p>\n

“He started to invest also in the ’70s and buying properties in Brooklyn and then passed them down to my sister and I,” Bonanno recalled.<\/p>\n

Today, Bonanno said that dream<\/a> is becoming increasingly difficult to sustain. She disputed claims that landlords are routinely earning double-digit returns, arguing such figures ignore the rising costs of mortgages, insurance, taxes and<\/a> the expense of maintaining aging rent-stabilized buildings, many of which were constructed in the early 20th century.<\/p>\n

Steve Forbes: Mamdani’s Socialist Rent-control Puts New York On The Road To Housing Ruin<\/a><\/p>\n

\"A<\/p>\n

Brownstone apartments in Manhattan, New York City, on July 6, 2024.<\/p>\n

“I don’t know where they’re getting 12% from,” Bonanno said, responding to remarks made Friday by New York City Democratic Socialists of<\/a> America co-Chair Gustavo Gordillo.<\/p>\n

“I know a lot of people refer to the NOI figure that came out recently, and that doesn’t take into account our mortgage and insurance,” she added.<\/p>\n

Gordillo, speaking to “The Story” host Martha MacCallum last week, argued that landlords should not expect double-digit investment returns<\/a> and dismissed claims that rent freezes<\/a> would drive property owners out of business.<\/p>\n

Tur also disputed Gordillo’s comments, arguing they were not made in reference to rent-stabilized properties, which he and Bonanno both own.<\/p>\n

When asked whether they planned to remain in the business, Tur said he hopes to continue the work his grandfather spent decades building, describing it as a responsibility to both his family and the tenants he has known for years.<\/p>\n

“I think it’s the right thing to do on behalf of my family and what my grandfather built and also on behalf of the tenants,” Tur said.<\/p>\n

Click Here To Download The Fox News App<\/a><\/p>\n

“These are people that we’ve known for several years. It’s not like we’re a huge company that’s not present. We’re boots on the ground.”<\/p>\n

Bonanno, however, said her family’s future in New York is far less certain.<\/p>\n

“We’re selling most of our rent-stabilized buildings because we just don’t see a future here for having profit,” she said.<\/p>\n

“We hope we could stay in New York City and maybe invest in non-rent-stabilized properties, but if not, we’ll have to just sell and purchase properties in other states.”<\/p>\n

Original article source: New York City landlords warn American dream is slipping away under socialist rent policies<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Democratic Socialists’ calls to freeze rents and reject double-digit investment returns for landlords are fueling fears among some…\n","protected":false},"author":2,"featured_media":302251,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[61510,87982,114574,114573,9,24,55,54,56,55640],"class_list":["post-302250","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york-city","tag-democratic-socialists","tag-gustavo-gordillo","tag-investment-returns","tag-natalia-bonanno","tag-new-york","tag-new-york-city","tag-new-york-city-headlines","tag-new-york-city-news","tag-ny","tag-property-owners"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/302250","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=302250"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/302250\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/302251"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=302250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=302250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=302250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}