Building Sale with Stabilized Apartments Sets Benchmark Post-Rent Rule Changes
A small apartment building in Greenwich Village recently sold, representing one of the first sales since new laws restricting rents were enacted. It provides an early indicator of the values of rent-stabilized buildings under new state rules. The five-story walk-up sold for $11.6 million, a 12 percent discount from the seller’s last asking price. Three of the building’s 13 units are rent stabilized.