Cuomo predicts disaster in New York City real estate market without rent stabilization extension

Gov. Andrew Cuomo predicted disaster for New York City’s real estate market if the state Legislature fails to renew a rent stabilization law set to expire in June.

“If we don’t extend rent [measures], we will have chaos in the real estate market,” Cuomo said Friday to the Association for a Better New York in Midtown. “Without rent regulations and rent stabilization, you’ll have chaos in the real estate market unlike anything you’ve ever seen. Because if it lapses one day, you will see real estate…