Across town from Tishman Speyer’s Stuyvesant Town and Peter Cooper Village, residents of Independence Plaza North at 80 North Moore Street in Tribeca are hoping the recent rent-stabilization ruling applies to them, too. At the 1,339-unit I.P.N., a case brewing since 2005 argues that tenants’ rents should be stabilized because their landlord received tax abatements through the city’s J-51 program. The state’s highest court recently ruled that the investors owe $200 million to Stuyvesant Town residents who were overcharged on their rents for the same reason. Stephen Meister, an attorney who represented the Real Estate Board of New York in the most recent Stuyvesant Town appeal and also represents I.P.N.’s landlord, Laurence Gluck, said the cases are quite different. In I.P.N.’s case, the city mistakenly continued to grant Gluck tax breaks for two years after he removed the building from the Mitchell-Lama middle-class housing program in 2004, Meister said. After he stopped receiving the abatement, Gluck repaid roughly $17,000. In April, the I.P.N. case was turned over to the state Division of Housing and Community Renewal, which expects to issue an opinion no earlier than January. [Downtown Express]
the real deal by email
news by neighborhood
New Jersey
Bronx
Long Island
Queens
Other Brooklyn Neighborhoods
Kensington / Windsor Terrace / Ditmas Park
Staten Island
Red Hook / Gowanus
Boerum Hill / Cobble Hill / Carroll Gardens
Park Slope / Prospect Heights
Bed-Stuy / Bushwick
Fort Greene / Clinton Hill
Dumbo / Brooklyn Heights / Downtown
Williamsburg / Greenpoint
Lower Manhattan
East Village / Lower East Side
Tribeca / Soho
West / Greenwich Village
Murray Hill / Gramercy
Chelsea
Far West Side
Midtown
Upper West Side
Central Park
Upper East Side
Harlem
Inwood / Washington Heights
TWEETS
- This week, @DouglasElliman dominates @trdny's "Top Residential Agents" list, scoring three of the top five spots. http://t.co/WuwFfoQI 10:26:54 PM May 25, 2012
- Here's some #NYC residential sales data before you head off to the #Hamptons via @trdny http://t.co/41pt08N4 08:54:27 PM May 25, 2012
- Marcia Gay Harden gets $2.8M for #Harlem townhouse listed by@cathytaub of @StriblingNYC http://t.co/pR718yY4 via @trdny 08:47:36 PM May 25, 2012
- Boymelgreen, Africa Israel settle with @AGSchneiderman over 20 Pine St. construction, but face new $20M suit http://t.co/wYyqrfBP via @trdny 08:16:42 PM May 25, 2012

