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On April 26, 2018, a unanimous Court of Appeals held that apartments vacated between 1997 and 2011 will be considered luxury deregulated where the legal regulated rent was $2,000 or more at the time the incoming tenant moved in. The court reversed the First Department, which had held that such apartments would not be deregulated unless the rent was $2,000 or more at the time the outgoing tenant vacated. As has been widely reported, this was a major victory for the real estate industry.
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The Guaranty Law Continues to Divide Opinion
By Matthew J. Schenker and Joshua Kopelowitz
This article discusses the recent developments surrounding the constitutionality of the Guaranty Law. In particular, we address the Southern District’s view that the statute is unconstitutional and the splintered view of the statute’s constitutionality expressed by New York State courts.
By New York Real Estate Law Reporter Staff
ZBA’s Abandonment of Its Prior Determination Invalid
Denial of Area Variance Upheld
Lease of Town Property Upheld; Property Not Subject to Public Trust
East Side Rezoning Upheld Against SEQRA Challenge
By New York Real Estate Law Reporter Staff
Partial Constructive Eviction Defense Recognized
Condition Precedent to Sub-Sublease Not Satisfied
Guaranty Law Does Not Bar Liquidated Damages Claim
Penalty for Improper Conversion of Residential Building
Force Majeure Clause Reduces Pandemic-Era Rent
By New York Real Estate Law Reporter Staff
Contract Language Does Not Bar Purchaser’s Recovery of Prejudgment Interest
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