Third Avenue Residential Apartments at 160 East 84th Street. Image credit: CityLaw.
State used sampling method to set new base rent for studio improperly deregulated under luxury decontrol. The owner of a rental building at 160 East 84th Street, Manhattan, took advantage of the luxury decontrol provisions of the Rent Stabilization Law to deregulate a studio apartment. Subsequently, the New York Court of Appeals ruled that buildings like 160 East 84th Street were ineligible to take advantage of luxury decontrol because the building was also receiving tax incentive benefits under New York City’s j-51 program. (read more…)
