On October 21st, the New York State Court of Appeals issued a landmark ruling that effectively “re-regulates” as many as 80,000 NYC apartments that, until now, had been unlawfully treated as market-rate units by landlords throughout the City. In Roberts v. Tishman Speyer Props., LP (source) the court found that apartments renting for more than $2000 are now subject to rent stabilization if they are located in buildings receiving “J-51” tax abatements from the City. There are more than 1,000 such buildings in Manhattan alone. Any apartment in such buildings that had been previously subject to “luxury decontrol” is now rent stabilized.
