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NYC Mayor de Blasio Announces Implementation Of New Law To Combat Speculators And Tenant Displacement
NEW YORK, N.Y. /New York Netwire/ -- NYC Mayor Bill de Blasio this week announced that the Predatory Equity bill, which will help curb speculation and displacement in fast-changing neighborhoods, has become law. Under Intro 1210-A, sponsored by Council Member Ritchie Torres and former Council Member Dan Garodnick, the City’s Department of Housing Preservation and Development will publish a “Speculation Watch List” that identifies recently sold, rent-regulated buildings where tenants are at risk of displacement due to potentially predatory investors.