NY Gov. Kathy Hochul, legislative leaders come to initial agreement on landmark housing deal

Gov. Kathy Hochul and top state lawmakers struck a housing deal Friday, clearing a major hurdle for state budget negotiations that have dragged on nearly two weeks past deadline, sources said. The preliminary agreement would allow tenants in many market-rate units in New York City to challenge lease hikes of more than 10% in housing court, according to the sources. It also aims to boost production of badly needed new and affordable housing in the city, including by lifting a decades-old state law that caps the density of buildings in...