A Perfect Storm of Costs Is Squeezing NYC Landlords to the Brink
✦ NabkaNews BriefAuto-summarized from multiple outlets · verify with the source
A combination of rising costs is reportedly putting pressure on landlords in New York City. Some landlords may be selling their properties, with at least one office building in Midtown South being acquired by a lender at auction. The situation may be prompting some major investors to exit the NYC real estate market, although the specifics of the situation and its causes are not entirely clear.