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Ever since Roberts v Tishman Speyer Props., 13 NY3d 270 (2009), it has been an article of faith that a building’s receipt of J-51 benefits means that all of the apartments therein automatically become rent-stabilized. If those apartments were already rent-stabilized, they become, under the logic of Roberts, stabilized a second time. The second layer of rent stabilization has the effect of barring luxury deregulation, at least until J–51 benefits expire. See, Schiffren v Lawlor, 101 AD3d 456 (1st Dept 2012).
By Mark Hakim
On June 14, 2019, New York lawmakers approved, and Governor Cuomo signed, the “Housing Stability and Tenant Protection Act of 2019.” The Act contains a series of laws affecting all rentals within the State of New York, making permanent New York’s rent regulation laws, which proponents say will ensure that New York’s tenants are protected. However, as with any legislation, especially one that seems to have been enacted hastily, there are unintended and possibly quite adverse long-term consequences.
40-Year Lease Invalid
Cancellation of Satisfaction Denied
Questions About Meeting of Minds
Statute of Limitations Bars Foreclosure Action
Mortgage Acceleration Revoked
Deed Valid When Not Intended As Security for Mortgage Debt
Specific Performance Denied for Failure to Show Ability to Close
Award of Contingent Attorney’s Fees