Court rules against Gluck on rent deregulation at Tribeca complex

TRD New York /
Aug.August 31, 2010 08:30 AM
Laurence Gluck, Independence Plaza North

Manhattan landlord Laurence Gluck illegally deregulated rents for tenants at Tribeca’s Independence Plaza North while simultaneously receiving J-51 tax breaks from the city, a state Supreme Court judge ruled yesterday, taking a page out of the book on Stuyvesant Town and Peter Cooper Village, where a similar ruling was handed down last year. At the 1,331-unit IPN, at 80 N. Moore Street, Gluck facilitated the complex’s exit from the state’s Mitchell-Lama rent-stabilized housing program in 2004 and subsequently jacked up the rents, according to Crain’s. The tenant-led suit argued that Gluck should not have been allowed to raise rents while still receiving tax breaks from the city. Yesterday’s ruling reverses a March state decision that said the rent increases were justified because Gluck repaid the city for the tax breaks when he discovered that they would be problematic. While Gluck is likely to appeal the decision on the five-year-old lawsuit, it represents the latest in a string of setbacks for the landlord, who lost his massive Riverton Houses complex in Harlem to foreclosure earlier this year after failing to convert its 1,230 rent-regulated apartments to market-rate rentals. [Crain’s]

 

Related Articles

arrow_forward_ios
A New York court’s greenlight of a class action against Big City Realty could change the dynamic of class action suits. (Credit: iStock)

“Nightmare” for landlords: Court OK’s class action against Harlem owner

Housing Preservation and Development Commissioner Louise Carroll

City crafting overhaul of landlord tax break

Steve Croman and 566 Hudson Street (Credit: Google Maps, iStock)

Steve Croman sued over illegally deregulating apartments

111-32 76th Avenue (Credit: Google Maps, iStock)

Another J-51 lawsuit has been granted class action status

A J-51 lawsuit against the Mycak family has been granted class action status. (Credit: iStock)

This landlord is suing to undo New York’s new rent law. But its tenants just won a key victory.

Blackstone will pay rent-stabilized tenants $1M. It won’t stop the lawsuit.

Blackstone will pay rent-stabilized tenants $1M. It won’t stop the lawsuit.

Affiliate of Kaled Management agrees to pay tenants of J-51 building $850K

Affiliate of Kaled Management agrees to pay tenants of J-51 building $850K

State wrongly hid identities of landlords accused of cheating rent-stabilization rules: tenant advocates

State wrongly hid identities of landlords accused of cheating rent-stabilization rules: tenant advocates

arrow_forward_ios