Source: New York Post
Thousands of rent-stabilized apartments in NYC are under threat of foreclosure as an increasing number of landlords stop paying their mortgages — making the coveted units even more scarce, insiders told The Post. Buildings with a cumulative 176 rent-stabilized units have been foreclosed upon since 2022 – a figure that’s been doubling every year on average — with another 2,093 stabilized units have been put on notice by banks in April that landlords are defaulting on their mortgages, according to an analysis by PropertyShark data. “It’s a bloodbath,” said Sarah Saltzberg, co-owner of Bohemia Realty Group, who rents pre-war units in upper Manhattan.
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