Deed restriction fuels more litigation

Developer sought to extinguish deed restriction on Upper West Side property. The City, through the Department of Housing Preservation and Development’s Asset Sales Program, sold 330 West 86th Street in Manhattan to the building’s tenants. Because the property had been designated as an Urban Development Action Area Project, the deed stated that the tenants could only rehabilitate or conserve the existing dwellings, or construct new dwellings permitted by existing zoning laws. The deed also required … <Read More>