Oh thats a hot take. Anyone in NYC have the low down on this. I cannot imagine her taking a step down lol.
Once a lease is up a landlord can raise the rent as much as they want. There's no limits here. So if by the time the renew their lease in a year or two (not sure if they signed a one or two year lease) and prices are going back up, they'll have to pay more. I don't think I've ever heard of a landlord raising by more than a couple of percent, but technically they're allowed to. Usually that's why people move so much here, they get priced out or can get a better deal elsewhere.