Last week’s sale of a huge rent-stabilized portfolio at a steep discount has real estate insiders buzzing about how much multifamily property values have dropped since drastic changes to New York’s rent law in June. The 539-unit Kestenbaum family portfolio in Rego Park was unloaded for $129.5 million, or 38 percent less than its original listed price — and $60 million short of what sources said was offered a year ago. “The Rego Park Queens
source https://therealdeal.com/2019/11/25/big-sale-sparks-debate-about-how-far-multifamily-market-has-plunged/
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