Did IAIs Raise Rent Above Deregulation Threshold?
LVT Number: #30030
Vacancy-deregulated tenant sued landlord for rent overcharge and improper deregulation. The court ruled for tenant without a trial. Landlord appealed, and the case was reopened for further fact-finding. There were genuine questions of fact as to whether landlord's claimed expenditures for individual apartment improvements (IAIs) performed before tenant moved in were sufficient to bring the legal rent above the high-rent vacancy deregulation threshold.
Ruggerino v. Prince Holdings 2012, LLC: Index No. 156640/16, 2019 NY Slip Op 02264 (App. Div. 1 Dept.; 3/26/19; Friedman, JP, Gische, Kapnick, Gesmer, Kern, JJ)