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Tenants score another win: Lower Manhattan apartments should’ve been rent regulated, court rules

The state’s Court of Appeals on Tuesday ruled in favor of tenants at two Lower Manhattan buildings, finding that their apartments should have been rent stabilized. The issue resolves questions over the state legislature’s intent when the 421g tax program was created. The court reversed an appellate court’s decision, finding that because Clipper Equity and an entity tied to Kibel Companies respectively received 421g tax breaks at 50 Murray Street and 90 West Street, they’d […]

The Real Deal New York

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