NYC Landlord Stuck In J-51 Program After Appeal Rebuffed

Law360, New York (February 12, 2013, 4:46 PM EST) -- A New York state appeals court on Thursday denied a 1,000-unit New York City apartment complex leave to appeal to the state's highest court for permission to give up lucrative tax breaks so it can deregulate previously rent-stabilized apartments.

After finding in October that the London Terrace apartment complex in Manhattan's Chelsea neighborhood couldn't withdraw from a program that gives landlords J-51 tax breaks in return for making apartments subject to rent stabilization, a five-judge panel of a state appeals court denied the complex's leave to...
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