Private equity firms buying up rent-regulated buildings 

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Private equity firms have acquired 75,000 rent-regulated apartments in the city in the last four years – about 6 percent of the 1.2 total of such units – and residents and tenant advocacy groups claim these new landlords are harassing tenants, in an effort to increase vacancy and hike rents. Tenants complain that they have been sued in error for unpaid rent, falsely accused of illegal sublets and sent false notices of rent bills, lease terminations and non-renewals. Vantage Properties, Apollo Real Estate advisors, the Pinnacle Group and Normandy Real Estate Partners have been accused of intimidating tenants. 

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