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The City Council recently unanimously voted on the “Predatory Equity Bill,” which will create a watch list of rent-regulated buildings where tenants are potentially vulnerable to investors who may want to kick them out. The legislation requires HPD to compile a “Speculation Watch List” of rent-regulated properties with sales prices that are unusually high in comparison to similar sales in the area. City officials feel that such transactions could hint that investors seek to raise rents in the buildings by displacing current tenants.
