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Rent Control

Real Estate
NYC Developer Buys Hackensack Building For $36M NYC Developer Buys Hackensack Building For $36M
NYC Developer Buys Hackensack Building For $36M A New York City developer has bought a luxury apartment building in Hackensack for $36 million, TheRealDeal reports. The VUE Hackensack on Polifly Road is now owned by Sutton Equity, whose executives claim the off-market purchase was motivated by New York City's recent rent control increase, according to the outlet. The building has 78 units, most of which are two bedrooms in the 1,200 square feet range, Apartments.com says. The average monthly rent is $2,650. Click here for more from TheRealDeal.

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by Nicole Acosta