Building Bought from City Is Covered
LVT Number: 16760
Tenants sued landlord after a city-owned building was sold. They claimed that they were now subject to rent stabilization. The court ruled for tenants. Under the Rent Stabilization Law, tenants who live in city-owned buildings that are sold to a private landlord are entitled to initial rent-stabilized leases at the last rent charged by the city. Tenants became rent stabilized in 1997 when landlord bought the building.
Cousins v. Neighborhood Partnership HSG: NYLJ, 7/30/03, p. 18, col. 4 (Sup. Ct. NY; Shafer, J)