Monthly Archives: January 2013

The Rent Is Too D@&! High

The First Department Appellate Division ruled last month that an apartment that is rent stabilized before receiving J-51 tax benefits reverts to its previous stabilized status after those benefits expire and is subject to luxury deregulation. The Dec. 11 opinion, as reported by the NYLJ, follows an earlier First Department ruling, 73 Warren Street v. [...]

By | 2013-01-18T13:53:59+00:00 January 18th, 2013|

Time To Pay The Piper

Federal regulators and 14 banks have reached a $10 billion settlement agreement to resolve claims of foreclosure misconduct. This settlement follows the state suit settlement with 5 banks for $26 billion that was reached in February 2012. It is not clear yet how the funds will be distributed and who will be the recipients. Considering [...]

By | 2013-01-18T05:59:38+00:00 January 18th, 2013|