City Council Introduces Bills to Combat 'Predatory Equity'

The City Council recently introduced a set of bills aimed at limiting the practice of buying rent-stabilized units at prices that advocates say make sense only if some tenants are ultimately replaced by higher-paying ones. The council members are hoping that by targeting and identifying real estate professionals involved in these “predatory equity” transactions the attention may stem aggressive tactics used to push out rent-stabilized tenants.

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