Law360, New York (December 05, 2011, 2:17 PM ET) -- The Second Circuit on Monday affirmed a lower court's decision to allow an amendment to New York's Multiple Dwelling Law prohibiting owners of certain buildings from renting apartments for fewer than 30 days at a time, saying such a law does not infringe hotel owners' Fifth Amendment rights.
In a published ruling, the court found that budget hotel operators Dexter 345 Inc., Dexter Properties LLC and Esplanade 94 LLC had failed to show that the stricter law would cause their businesses irreparable harm.
“The district court...
2nd Circ. Won't Interfere With NY Rental Prohibitions
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