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DRAFT FOR ATTORNEY REVIEW — NOT FINAL

Liggett v. Lew Realty LLC, 180 N.Y.S.3d 115 (2022)

Citation
Liggett v. Lew Realty LLC, 180 N.Y.S.3d 115 (2022)
Parent Document
Liggett v. Lew Realty LLC, 180 N.Y.S.3d 115 (2022)
Jurisdiction
New York (state)
Effective Date
2022-12-08

Other Sections in This Document (41)

Full Text

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The 2000 stipulation undermined the statutory process by which initial regulated rents are set. The Rent Stabilization Code provides that where, as here, a formerly rent controlled apartment is vacated and becomes subject to rent stabilization, "the initial legal regulated rent shall be the rent agreed to by the owner and the tenant and reserved in a [rent-stabilized] lease," subject to the tenant's right to pursue a Fair Market Rent Appeal (FMRA) (9 NYCRR 2521.1[a][1]). Thus, the process has three components: the landlord sets the rent, the tenant agrees to pay it, and, if the tenant is unhappy with the amount, the tenant has the right to challenge the rent through a FMRA, which will be decided by the Division of Housing and Community Renewal, subject to court review.