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. Dr ...

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 rent was just $2,100 a month — nearly $600 less than similar market-rate apartments. He entered the lottery and, a few months later, moved in.

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.

His company sold 21 rent-stabilized buildings last year at a loss. Barberry parted with one building in Harlem for $3.8 million, 59% less than the company paid in 2016.

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 ...