A nonprofit says it can no longer afford to own rent-stabilized housing. Brooklyn-based Food First aims to sell over 20 apartment buildings across Brooklyn and the Bronx in auctions this week.

One of those buildings was a small Craftsman-style home, not far from USC, where Noe Herrera and his siblings have lived since July 2018, paying about $500 a month in rent.

The RGB’s own research data and reports show that a minimum rent increase of 6.3% is necessary for small-property owners to meet their increased operating costs and expenses.

Using Rising Rent Debts as Cover, Bowser Works to Rob Many Tenants of the Right to Buy Their Buildings The mayor slipped a series of major TOPA changes into a bill hypothetically meant to help ...