OceanFirst Deal May Lessen Flushing's Exposure to NYC Rent Freeze -- Market Talk
Dow Jones01-01
1118 ET - Flushing Financial's acquisition by OceanFirst may insulate the bank from Mayor-elect Zohran Mamdani's plan to impose a four-year rent freeze for rent-stabilized units in New York City, Raymond James analysts write in a note. Flushing operates heavily in the New York City area and has a rent-regulated portfolio of about $1.4 billion. The deal is "a positive from a long-term perspective as the election of Mayor-elect Mamdani will likely increase concerns about exposure to rent-regulated properties over time if proposed rent freezes occur," the analysts write. (elias.schisgall@wsj.com)
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December 31, 2025 11:18 ET (16:18 GMT)
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