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Two big headlines out of New York this week have one thing in common – rent stabilization laws that are destabilizing the value of multi-families. One of those stories is about the sale of two multi-million dollar properties for less than half of the purchase price. The other story is about New York Community Bank which suffered a downgrade to “junk” because of commercial loan losses, including multi-family properties that are sinking in value. We’ve heard a lot about the impact of high interest rates on loans for unprofitable office buildings. But this story highlights the negative impact of rent stabilization laws. The headline that caught my eye in The Real Deal read: “Another rent-stabilized haircut, this time with shears.” The investment firm Bentall Green Oak unloaded two properties in upper Manhattan for just $31 million. That’s 64% less than the purchase price of $85 million...(more) ...That’s it for this episode. You can read more about this two-headed monster by following links to the articles in th