City and state officials are concerned that a bankruptcy suit involving 444 East 13th Street will lead to bad precedent undermining rent stabilization laws. (Image Credit: Google Maps)
Government officials fear bad precedent could make it easier for landlords to bypass rent stabilization laws. On March 13, 2019, New York Attorney General Letitia James, the New York State Division of Housing and Community Renewal (NYSHCR) and the New York City Department of Housing Preservation and Development (HPD) announced that the State and City moved to join in an action in United States Bankruptcy Court for the Southern District of New York as part of a fight to protect tenants in rent-stabilized apartments. The owner of 444 East 13th Street, in the East Village section of Manhattan, applied to reject tenants’ leases. (more…)
