Property investors have spent billions of dollars on apartment buildings for what has been one of the most reliably profitable bets in New York City real estate: converting rent-regulated apartments to market-rate units.
But New York’s new rent law may be putting an end to that business, causing financial stress for the companies that own these buildings.
I am sure (or probably) some are international real states investors who buy properties mindlessly (because they have too much money 💰 & only want a place 2hide it) which then creates overinflated property value that only hurts the local rentals or buyers. NoMoreInternational
Aw the poor landlord. No one feels sorry for these scumbags.
DEPORT ALL ILLEGALS ON WELFARE & TAX FRAUDS RENTS PLUMMET 20-30% Poverty OVER Millions grab up apartments going to condos & HOMEOWNERSHIP EXPLODES IF FELONY TAX EVASION OR WELFARE/MEDICAID FRAUD Refugee illegal or legal immigrant SEIZE EVERYTHING THEY OWN DEPORT THEM