Skip to main content
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

705 chars
Here, McKinney and defendant agreed to an initial legal regulated rent that was one vacancy increase away from high rent decontrol, and which McKinney would never have to pay and agreed never to challenge. By doing so, they thwarted the Rent Stabilization Code's mechanism for ensuring a fair and reasonable initial legal regulated rent: a true arm's length negotiation in which the tenant has both the right and the incentive to challenge the initial legal regulated rent if it were unreasonable. "Agreements like the one at issue here distort the market without benefitting the people the rent [*5]stabilization laws were designed to protect" (Riverside Syndicate, Inc. v Munroe, 10 NY3d 18, 23 [2008]).