Newly Created Apartment Rent Stabilized Due to J-51 Tax Benefits
LVT Number: #29985
Landlord applied for high-rent/high-income deregulation of tenant's rent-stabilized apartment in 2014 when monthly rent exceeded $2,500. The DRA ruled against landlord and dismissed the case, finding that the apartment was rent stabilized solely as the result of J-51 tax benefits received between 1999 and 2010. Since tenant's leases contained no J-51 riders notifying tenant of deregulation upon J-51 expiration, landlord couldn't deregulate the apartment until tenant moved out. Landlord appealed and lost.
Cenpark Realty, LLC: DHCR Adm. Rev. Docket No. EW410063RO (1/30/19) [4-pg. doc.]