In Altman v. 285 W. Fourth, LLC, 127 AD3d 654 (1st Dept 2015), the First Department held that to effectuate luxury deregulation of an apartment that became vacant between 1997 and 2011, the legal regulated rent had to be above the statutory deregulation threshold at the time the outgoing tenant vacated. The First Department held that it was not enough for the legal rent to be above the statutory threshold at the time the incoming tenant moved in.
In Aimco 322 E. 61st Street v. Brosius, 50 Misc3d 10 (App Term 1st Dept. 2015), Appellate Term called Altman into question. In 233 E. 5th St. LLC v. Smith, decided on Dec. 8, 2016, Appellate Term reiterated its position.
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