First Effects of New Rent Laws Being Felt 

Things looked promising for the sellers of a collection of Harlem apartment buildings, listed in April for $260 million. Almost immediately, 150 would-be buyers requested financial details on the 789 units, nearly all rent stabilized. About a dozen investors made offers.

Then the New York state legislature rewrote the rules on stabilized rents, capping the potential for increases, and slashing the property values overnight. Suddenly the suitors of the 28-building “Harlem Ensemble” disappeared faster than they came.https://www.crainsnewyork.com/real-estate/city-apartment-building-sales-plummet-new-rent-law-poses-risk