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There are legitimate problems NYC landlords face. Many rent-stabilized properties have below-market rents, and expenses grow every year more than revenue. That's a recipe for failure, every year your financial situation gets worse.

Amortization on most if not all of NYC apartments happened decades ago. Rent is almost entirely profit for these ppl

As a small landlord (albeit not in NYC) it’s harder to turn a profit than you may think. But, whatever, it’s an investment and you have no entitlement to a profitable investment.

They are lying. Every time a story like this comes up it always turns out they were lying. They are still going to be able to afford the mortgage on the property using only the rent money. They still don't have to work a job. They just can't get an extra yacht that year and are whinging about it.

But look how sad that landlord is.

They spent too much money trying and failing to get Cuomo elected.

I wish someone could delve into the financials of this. Some of my, admittedly probably wrong, napkin math has them making tens of millions. Although I guess millions isn't much if your principal debt is hundreds of millions and your interest is tens of millions.

Oh no! Landlords will be forced to sell their multimillion properties! Dickens wrote about poorhouses which these landlords will end up

Imagine if these landlords can't make enough money from their tenants. They'll have to get jobs like the rest of us. Is that fair?

What often goes unsaid in these articles is that nobody fact checked the landlords, they are just lying.

I do think we’re in for a wave of financially distressed landlords, but in the same way that Florida condo associations are going under; they deferred maintenance for thirty years and pocketed the cash

If you’re not allowed to raise rents to cover rising costs, that’s not a skill issue

Ultimately may depend in some cases on how leveraged they are. Which may not be skill so much as when and where they entered the market. In general I agree that if you own a building in that city it shouldn’t be hard to make a profit renting units.

It's like they're not even trying 😂

Landlord isn't a job anyway.

Then, they should FUCKING sell the unit. Why is this hard for these people to understand?

they always whine

Guess they’ll have to sell