Soon after Albany passed its overhaul of the state’s rent law in June, real estate firms with big rent-stabilized holdings took a major hit. Months earlier, David Bistricer’s real estate investment trust Clipper Equity, which owns more than 3,000 regulated units in the city, had presented an ambitious deregulation plan to investors. The firm was aiming to bring its seven-building Flatbush Gardens — which represented 38 percent of the landlord’s holdings at the time —
source https://therealdeal.com/2020/01/28/managing-the-rent-law-aftershocks/
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