Attorney General Schneiderman found the developer was operating a building as an illegal hotel while receiving a 421-a property tax exemption. On February 26, 2015 New York State Attorney-General Eric Schneiderman announced reaching a settlement with 47 East 34th Street LP over illegally evading New York property taxes. The LP owns an apartment building at 47 East 34th Street in Manhattan which is exempt from property tax under the 421-a program, however the Attorney General’s … <Read More>
Search Results for: Rent Regulation
Stuy Town Tenants’ Claims Dismissed
Tenants at Stuyvesant Town and Peter Cooper Village claimed that owners covered by rent regulations. Tenants of Stuyvesant Town and Peter Cooper Village sued property owner PCV ST Owner LP and general partner Tishman Speyer Properties, seeking damages for rent overcharges and a declaration that rent regulation should continue as long as the property owner received J-51 tax benefits. The tenants alleged that the owner had deregulated more than 25% of the units … <Read More>
Appellate Division Provides Major Win for Two Bridges Developers
Two Bridges development gets Appellate Division ruling but two lawsuits remain pending. On August 27, 2020, the First Department’s Appellate Division unanimously ruled in favor of a Lower East Side development that would consist of four towers, 11,000 square feet of retail, and over 2,700 residential units. Of the 2,700 residential units, approximately 700 units will be dedicated to affordable housing and 200 units will be set aside for senior housing. The project’s development group … <Read More>
UES Tenement Development To Keep Landmark Status Despite Owner’s Lawsuit
Building owners claimed landmark status caused financial hardship. Stahl York Avenue Co., LLC, tenement development owner of 429 East 64th Street and 430 East 65th Street in the Upper East Side, sued the City and the Landmark Preservation Commission in January 2016, asking the court to release the property landmark status in order to permit demolition and construct new high-rises for larger profits. Stahl York Avenue sought to demolish the two buildings, which are part … <Read More>
Challenge to Denial of Hardship Application Fails on Appeal
Developer claimed that Commissioners irrationally and prejudicially analyzed hardship application, and that designation amounted to an unconstitutional taking. In 1990, Landmarks designated the City and Suburban Homes Company, First Avenue Estate an individual City landmark. The block-sized development is bounded East 64th and 65th Streets and York and First Avenues. Built between 1819 and 1915, it was constructed to provide high-quality housing to low-income New Yorkers in an alternative to crowded, poorly ventilated tenement buildings. … <Read More>
Landlord Wins Decontrol Dispute in First Department
Post-vacancy rent increase raised rent beyond $2,000 threshold and resulted in decontrolling a rent-stabilized apartment. In November 2003, Craig Smith and Elise Stone rented an apartment at 233 East 5th Street in Manhattan. Prior to their occupancy, the previous tenant resided in the unit as a rent-stabilized tenant. The previous tenant’s rent at the end of his occupancy was $1,836.20 per month. On renting the apartment Smith and Stone accepted a 20-percent vacancy increase. … <Read More>