Expiring 421a Buildings Draw Buyers Seeking Higher Rents therealdeal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from therealdeal.com Daily Mail and Mail on Sunday newspapers.
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.
US News: 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 re