Rent Controlled apartments are a fact of life in New York City. Sometimes when the rent was arranged early last century and before, the actual apartments can change hands for amazing sums of cash.

It does sort of happen in places like Manchester to a degree where some people pay peppercorn amounts to the old landed gentry. Technically people living on the old estates don't "own" the land, but operate under a perpetual lease.
The de Trafford family extracts some miserly amount from lots of people living in the Trafford Park Estates etc. The de Traffords are probably one of the most famous family names in the world, but entirely separate reasons to them owning land.