Riverbend Housing Co. v. Stephenson, 172 Misc. 2d 385 (1997)
- Citation
- Riverbend Housing Co. v. Stephenson, 172 Misc. 2d 385 (1997)
- Parent Document
- Riverbend Housing Co. v. Stephenson, 172 Misc. 2d 385 (1997)
- Jurisdiction
- New York (state)
- Effective Date
- 1997-02-27
Other Sections in This Document (5)
- Riverbend Housing Co. v. Stephenson, 172 Misc. 2d 385 (1997)
- Riverbend Housing Co. v. Stephenson, 172 Misc. 2d 385 (1997)
- Riverbend Housing Co. v. Stephenson, 172 Misc. 2d 385 (1997)
- Riverbend Housing Co. v. Stephenson, 172 Misc. 2d 385 (1997)
- Riverbend Housing Co. v. Stephenson, 172 Misc. 2d 385 (1997)
Full Text
616 charsCivil Court dismissed this nonpayment proceeding upon the ground that the amount sought in the petition, representing an "equity increase” payable by the tenant shareholder over a 60-month period to fund necessary capital improvements, did not constitute rent or additional rent within the meaning of RPAPL 711 (2). The cooperators of tenant’s Mitchell-Lama housing company approved this increase, which was then authorized by the Department of Housing Preservation and Developement (DHPD). Upon tenant’s vacatur from the premises, the increased equity is to be refunded together with the original equity investment.