[gbronner]

If you have an apartment that hasn't turned over for 20+ years, you can either rerent it at a low text and get sued by your tenant for lead or habitability violations, or you can borrow money and invest it at less than 2% in a renovation. Both ways you lose a fortune.

Or you leave it vacant and still lose money, but you don't have to work as hard doing it

[Spivak]

This doesn’t explain why they aren’t just abandoning the properties entirely. Surely not losing money at all is an improvement?

[Sakos]

They can afford to wait and hope the regulatory landscape changes, especially considering the potential profits.