Apartment complexes struggling

Apartment buildings are the latest sector to be hit by the troubles in the commercial real estate industry. The recession and job losses are making it hard for landlords to raise rents and meet revenue projections for their buildings. Converting rent-controlled units to market-rate has been a particular problem in New York. Landlords of several large properties in New York City, including the Riverton Apartments in Harlem and Stuyvesant Town-Peter Cooper Village, have had particular trouble.