About this episode
New York Citys small landlords face mounting challenges, from soaring costs to strict rent regulations, prompting many to consider selling properties held by families for generations. With slim profits and rising expenses, some buildings are now money losers, leading to neglected repairs and a shift in the market dynamics. Big real estate firms are cashing in on high rents, while corporate buyers snap up more buildings from individual owners. Despite city officials promises of help, a twenty nineteen law and sharp interest rate hikes have made it tough for small landlords to stay afloat.
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