Apartment Exempt from Rent Stabilization
LVT Number: #23411
Landlord sued tenant, seeking a declaration that tenant's penthouse apartment was exempt from rent stabilization. The court ruled for landlord. Tenant appealed and lost. The building had been converted from a purely commercial space to 23 residential apartments by substantial rehabilitation after 1974. This exempted the building from rent stabilization. Landlord did receive J-51 tax benefits for the work done, but those benefits ended in 1992. So any rent stabilization coverage for the building ended at that time. In addition, tenant's apartment was owner occupied during the entire period that landlord received J-51 benefits. So tenant's apartment was unquestionably exempt from rent stabilization.
22 CPS Owner LLC v. Carter: NYLJ, 5/9/11, p. 19, col. 2 (App. Div. 1 Dept.; Andrias, JP, Friedman, Catterson, Renwick, DeGrasse, JJ)
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