In its April 3, 2012 decision in Denza v. Independence Plaza Assoc., __A.D.3d__, 941 N.Y.S.2d 130 (1st Dept. 2012), the Appellate Division, First Department held that the New York City Department of Housing Preservation and Development’s (HPD) erroneous continuation of J-51 benefits at the Independence Plaza North (IPN) housing complex after the complex left the Mitchell-Lama program did not subject the complex to rent stabilization coverage.
Background
IPN is a Manhattan housing project constructed in 1974 under Private Housing Finance Law (PHFL) Article II, known as the Mitchell-Lama program. As a Mitchell-Lama project, IPN was eligible to apply for J-51 tax benefits based on certain renovation work the owner had performed. In 1998, IPN received J-51 benefits, which were to expire in 12 years.
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