Analysis

NYC Rent Regs Could Be Seen As Unconstitutional Takings

Law360 (October 1, 2019, 4:59 PM EDT) -- When New York City passed sweeping rent control legislation earlier this year, renter advocates lauded the move, but developers, real estate executives and lawyers say it amounted to the city unconstitutionally taking value from landlords.

At issue is a landmark law passed in June that largely maintains existing rent controls across New York City and does away with the prior caveat that rent controls had to be reevaluated from time to time.

Under the old system, rent controls at properties across the city would sunset every few years and generally be reinstated, often at slightly higher rents, but the new law...

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