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    Search results for "Rent Stabilization"

    City Council Votes to Extend Rent Stabilization Law

    City Council  •  Rent Stabilization  •  Citywide

    Image credit: New York City Council.

    State law requires rent stabilization laws to be renewed periodically based on housing vacancy rates. On March 10, 2022, the City Council voted to extend the City’s Rent Stabilization Law by providing more time to gather data to ensure the rent stabilization law is still necessary. The bill, Int. 70, was sponsored by Council Member Pierina Ana Sanchez. (more…)

    Date: 03/16/2022
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    Governor Cuomo Signs Sweeping Rent Control and Rent Stabilization Reforms into Law

    Governor  •  Rent stabilization  •  Statewide

    Image Credit: New York Senate.

    The law places limits on various mechanisms through which landlords of rent-regulated units can raise rent and provides many other protections for tenants. On June 14, 2019, Governor Andrew M. Cuomo signed into law the Housing Stability and Tenant Protection Act of 2019, which Cuomo called “the most sweeping, aggressive protections in state history.” The legislation extends and strengthens rent protections for tenants across the state and went into effect before the expiration of the existing rent regulations on June 15, 2019.  The new legislation makes the rules permanent, repeals high-rent vacancy deregulation and vacancy and longevity bonuses, reforms rent increases for major capital improvements and individual apartment improvements, creates protections for tenants across the state, and allows communities outside of the City to opt into rent stabilization. Assembly Speaker Carl E. Heastie and Senate Majority Leader Andrea Stewart-Cousins sponsored the bills with many co-sponsors in both the State Senate and State Assembly. (more…)

    Tags : affordable housing protections, Governor Cuomo, Housing Stability and Tenant Protection Act of 2019, individual apartment improvement rent increases, major capital improvement rent increases, New York State Division of Housing and Community Renewal, preferential rent, rent deregulation, rent regulation, rental guideline board, repeal vacancy and longevity bonuses, tenant protection during co-op conversion
    Date: 06/19/2019
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    Owner Wins Rent Stabilization Dispute

    CityLaw  •  Rent Stabilization  •  Tribeca, Manhattan

    50 Murray Street in Manhattan. Image credit: CityLaw.

    Tenants of a Tribeca high rise luxury rental building claimed protection of rent stabilization. Tenants of Tribeca House, a luxury rental residential building located at 50 Murray Street, Manhattan claimed that the owner of the building overcharged the tenants. Tribeca House, a twenty-one-story luxury loft apartment building, has 389 apartments comprised of studio, one, two, and three bedroom units. (more…)

    Tags : 50 Murray Street, loft apartment, Real Property Tax Law, residential building, Section 421-g, tenants
    Date: 08/17/2018
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    Converted Commercial Building Exempt from Rent Stabilization

    Court Decisions  •  Rent Stabilization  •  Bedford-Stuyvesant, Brooklyn

    885 Park Avenue, Brooklyn. Image credit: GoogleMaps

    Bedford-Stuyvesant developer converted commercial building into residential apartments. 885 Park Avenue Brooklyn LLC owned a commercial building located in the Bedford-Stuyvesant neighborhood of Brooklyn that had been used solely for commercial purposes. Beginning in 1999, 885 Park converted the building into 23 new residential units. The conversion was completed in 2003. In 2011, Daniel Goddard signed a one-year market-rate lease with 885 Park. (more…)

    Tags : Appellate Division Second Department, Civil Court, Park Avenue, Rent Stabilization
    Date: 10/30/2017
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    Rent Stabilization: Preserving Low and Middle-Income Housing

    CityLaw  •  Cover Article by Steve Cohen
    Image credit: Jeff Hopkins/CityLaw

    Image credit: Jeff Hopkins/CityLaw

    Rent regulation is not a new issue for New York City. But the headlines in June 2015 were far larger and the reactions more contentious than at any time in recent memory. For the first time in its 46-year history, the Rent Guidelines Board decided that there would be no increase in rents for one-year renewals on rent-stabilized apartments; it also limited increases on two year renewals to two-percent. Not surprisingly, tenants hailed the decision and landlords decried it.

    (more…)

    Tags : 421-a, affordable housing, Department of City Planning, Governor Andrew Cuomo, Mayor Bill de Blasio, NYC Rent Guidelines Board, rent regulation
    Date: 09/24/2015
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