Owner of 30% of Landlord/ Corporation's Stock Can't Get Apartment
LVT Number: 13338
Landlord applied for permission to evict rent-controlled tenant for owner occupancy. The DRA asked landlord for proof that she was an owner entitled to a certificate of eviction. Landlord didn't respond. The DRA ruled against landlord based on its finding that the building was owned by a corporation. Landlord appealed, claiming that since she owned 30 percent of the company's stock, she should be allowed to recover an apartment for owner occupancy. The DHCR ruled against landlord. Rent control regulations allow only individual owners to recover apartments for owner occupancy. Proof of an equity interest in the corporation doesn't change this.
Cadel/A.B.C.D. Enterprises: DHCR Adm. Rev. Dckt. No. LF420008RO (4/7/99) [2-pg. doc.]