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Brooklyn Rent-Stabilized Buildings Sold | Real Estate News
Brooklyn’s neglected rent-stabilized buildings, long plagued by pests, leaks, and broken heating, are finally getting a fresh start — thanks to a city-backed sale for just $86K per unit. Once owned by a defunct landlord and stuck in a messy foreclosure after a previous buyer walked away, these 88 homes are now headed to Mark Schwartz, mayor of Teaneck, NJ. With potential tax breaks and city loans on the table, the hope is for major renovations — and maybe even resident ownership down the line. But with tenants still living in limbo, this deal raises big questions: Can this fix what years of…
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