Google co-founder Sergey Brin has exited New York City real estate at a steep loss, selling his stake in struggling landlord A&E Real Estate for just six cents on the dollar. The Bloomberg-reported sale lands as Mayor Zohran Mamdani’s rent freeze on one million rent-stabilized apartments squeezes landlords already battered by 2019 rent laws, soaring costs and mounting unpaid rent. Google co-founder Sergey Brin has exited New York City real estate at a steep loss, selling his stake in struggling landlord A&E Real Estate for just six cents on the dollar. The Bloomberg-reported sale lands as Mayor Zohran Mamdani’s rent freeze on one million rent-stabilized apartments squeezes landlords already battered by 2019 rent laws, soaring costs and mounting unpaid rent.
