A 700-unit Upper East Side apartment tower has taken a steep valuation hit, highlighting the growing financial strain on rent-regulated housing in New York. Yorkshire Towers, a 21-story white-brick rental building at 305 East 86th Street owned by Meyer Chetrit and Stellar Management, lost about 30 percent of its value over the past four years, according to an appraisal cited by Crain’s. Morningstar Credit Analytics pegged the combined value of Yorkshire Towers and a smaller nearby property at $678 million, down from $954 million in 2022. The drop comes despite strong demand for market-rate units in the building, which features […]

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