Back to today’s briefing

Story perspectives

Wells Fargo forecloses A&E; Brin loses $79M; NYC rent freeze

7/1/2026

25 4 Full Breakdown

Summary

Story summary

Wells Fargo, acting as trustee, launched foreclosure proceedings against A&E Real Estate for a $506 million delinquent loan.
Sergey Brin sold his roughly $79 million stake in A&E’s New York City multifamily fund for six cents on the dollar in December.
The New York City Rent Guidelines Board voted 7-1 on June 25 to freeze rent increases on about one million stabilized units.

1 of 1

Story summary

Wells Fargo, acting as trustee, launched foreclosure proceedings against A&E Real Estate for a $506 million delinquent loan.
Sergey Brin sold his roughly $79 million stake in A&E’s New York City multifamily fund for six cents on the dollar in December.
The New York City Rent Guidelines Board voted 7-1 on June 25 to freeze rent increases on about one million stabilized units.