20 Hrs
Source:
New York Post
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Brin Sells NYC Property Amid Rent Pressure
Sergey Brin, co-founder of Google, reportedly sold his extensive New York City real estate holdings at a significant loss following the election of Mayor Zohran Mamdani, who implemented a rent freeze aimed at affordability. Brin's stake in the properties was valued at around $79 million, but he accepted a sale price equivalent to only six cents on the dollar. The sale reflects a broader trend of institutional landlords withdrawing from NYC's rent-stabilized apartment market amid legislative and political pressures designed to limit rent increases and improve tenant protections.
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