This is for tenants only, of course as they are part of the victim class in NYS. Property owners are still on the hook for mortagage, taxes, utilities and insurance.
Obviously foreclosures will skyrocket and/or small landlords will throw up their hands and sell which they have been doing like mad for the past 3 yrs. Thus furthering the “affordable housing crisis” ™
So, who’s buying rental property right now?
Black Rock
It is almost like NYS is trying to facilitate Black Rock acquiring real estate.
And when Black Rock has cornered the market on rental property these tent favoring laws will suddenly become inconvenient and will be repealed.