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An estimated 250,000 to 500,000 New York City apartments lost rent protection over the past quarter-century. Rent regulations for more than 1 million apartments are expiring in 2019.

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Berg added that the rental market has been “wiping out any gains” made by cities that have taken steps to combat homelessness.

At the time, The Real Deal said the transaction was one of the few sizable multifamily packages — 224 rental apartments — to.

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