Why New York City apartment buildings are on sale now for 50% off, ET RealEstate

Last year, New York buildings with at least one rent-­stabilized apartment sold on average for $203,000 a unit, down 34% since 2019. One of the key reasons for drop in apartment prices in New York is tough rent control. These rules benefit longtime tenants at the expense of newcomers, and they’re an inefficient way to help those who need it most, scholars have found.

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