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Billionaires Bail as NYC Rentals Crumble | San Jose News
Billionaire Sergey Brin just dumped his stake in a New York real estate fund—losing 94% in the process—amid a citywide crisis where landlords are drowning in costs, regulations, and unpaid rent. With rent hikes frozen for a million apartments and operating expenses soaring 78%, companies like A&E Real Estate are bleeding cash and blaming new laws for stifling repairs. City officials pile on pressure, while institutional investors flee, sparking fears of a “doom loop” where neglected buildings hurt tenants and owners alike. Listen in comfort:Get a discount on a Soli Pillow…
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