New York lawmakers want to give your favorite dive bar a rent freeze

Army & Navy bags in New York's Lower East Side has hung in there.

Juliana Kaplan/Business Insider

• Many NYC small businesses are struggling with rising rents.
• New York State lawmakers have proposed legislation to stabilize commercial rents.
• Real estate industry interests say the measure would be 'destructive' for property owners.

Henry Yao's 200-square-foot military surplus shop on New York's Lower East Side has hung in there for over 20 years. Other local businesses aren't so lucky...