From the Daily News:
The vultures are coming home to roost.
Affordable housing advocates sounded the alarm during the real estate boom, as private equity firms bought up dozens of rent-controlled buildings across the Bronx.
The advocates warned the investment firms would seek to maximize their returns by pushing existing tenants out and jacking up rents.
After the boom went bust, an even worse effect of "predatory equity" came to light: Overleveraged landlords are simply abandoning their buildings altogether.