A state appeals court has rejected a Manhattan landlord’s suit arguing that because it began apartment renovations two weeks before the effective date of a law limiting renovations-based rent hikes, it had a “vested right” to increase rent based on the old law.
The landlord, 300 Wadsworth LLC, contended that any “retroactive application” of New York City’s Housing Stability and Tenant Protection Act of 2019 that limited its planned rent hike would be an unconstitutional deprivation of its “preexisting rental-increase rights,” according to the Appellate Division, First Department court decision dismissing Wadsworth’s suit.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]