The property will go back to the bank that own the loan. The owners stopped paying the mortgage on the loan. There isn’t no “taken” lol tenants will have to bid and buy from bank.

These are RS buildings so there is no expensive rent. If you read the article the owners bought pre2019 change in law most likely with the intention of doing buy outs and renovations to deregulate units. They can’t do that anymore so therefore it’s a useless investment.