Claims from a year ago that New York City multifamily real estate may be as safe as Treasury bills with a bigger potential upside are being challenged by state and local government, Jeffrey Bernstein writes in a Seeking Alpha commentary. "Repositioning" strategies, which involved removing rent-controlled tenants, are being scrutinized in Albany and by city lawmakers. "A significant setback for multifamily investors in New York City does not bode well for quality of life," Bernstein added.

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