It turns out that the current owner of the dapper, four-story building, Peter Bacanovic, recently listed the property at 169 E. 71st Street on the Upper East Side of Manhattan because he, too, wants to start a new chapter in his life.

FORBES: "Breakfast at Tiffany's" Apartment for Sale

Capping what a property owner can receive in rent for an apartment or house decreases the market value of that building.

FORBES: Don't Junk Property Rights