Confusion Mounts Over NY Rent Rules In Stuy Town Fallout

Law360, New York (December 12, 2012, 8:19 PM EST) -- A New York appeals court's Tuesday ruling that the owners of a Manhattan apartment building can deregulate its units when their affordable housing tax credits expire has added to the growing uncertainty in the wake of a landmark 2009 rent stabilization decision, attorneys say.

With Tuesday's decision, a panel of judges in the Supreme Court of New York's Appellate Division determined that a unit that was subject to rent regulation before its owner received tax benefits under the city's J-51 abatement program could be deregulated and...
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