Residential apartment buildings are seen on July 26, 2022 in the Brooklyn borough of New York City.
Residential apartment buildings are seen on July 26, 2022 in the Brooklyn borough of New York City.
  • Private equity firms have bought up hundreds of smaller apartment buildings in trendy New York neighborhoods.
  • Tenants, mostly in Brooklyn, are complaining about sharp rent increases and maintenance issues. 
  • Institutional investors are a very small, but growing, slice of total home buyers. 

Private equity firms have spent hundreds of millions of dollars over the last few years buying up smaller apartment buildings in gentrifying — or already gentrified — neighborhoods in Brooklyn and Queens.