Two years ago, on June 14, 2019, New York lawmakers approved, and Governor Cuomo signed into law, the "Housing Stability and Tenant Protection Act of 2019" (the Act), which contained a series of laws affecting all rentals within the State of New York.
Legislature Modifies HSTPA to Assist Co-ops
In June, New York's lawmakers approved amendments to the Housing Stability and Tenant Protection Act, exempting cooperative corporations from some of the most onerous provisions, and clarifying others. Once signed, the new legislation will not only be a huge victory for the thousands of cooperative apartment buildings but also for many potential purchasers who were unable to purchase in those buildings as a result of the Act.
By
Jeffrey Schwartz and Mark Hakim
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