Mann Realty to pay $877K, prorate rent for overcharging tenant

UWS man will pay under $800 a month for his CPW pad

New York /
Jan.January 08, 2016 10:02 AM

Maurice Mann’s Mann Realty was ordered to pay hefty compensation to one of its Upper West Side tenants after a judge ruled they’d overcharged him for years.

Lane Altschuler, a resident of 478 Central Park West, will receive a $877,000 refund and have his $3,750-a-month rent reduced to below $800 a month.

The construction supervisor argued that his apartment was illegally removed from rent stabilization. His decision to sue was prompted by a 2009 state appeals court ruling that found landlords can’t remove apartments from rent regulation at buildings receiving tax subsidies, the New York Post reported.

Mann received $310,000 in J-51 tax benefits when it created 26 new condo units at the building, beginning in 2012.

The damages were equal to three times the amount Mann was found to have overcharged.

The extreme penalties that the appellate court has now upheld, without any trial, are “unprecedented,” Magda Cruz, Mann’s lawyer, told the Post.

“The owner in this case is like thousands of other owners throughout New York City who had rented their vacated apartments in reliance upon the interpretation of the luxury deregulation law prior to Roberts,” she added, referring to the 2009 ruling. [NYP]Ariel Stulberg


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
The median existing-home price exceeded $300,000 for the first time last year (iStock)
Vicious cycle creates “huge supply crunch,” pushing home prices up
Vicious cycle creates “huge supply crunch,” pushing home prices up
Spec home developer Nile Niami is soliciting buyers for his megamansion through Google Forms. (Getty)
How to sell a mansion for $350M? Use Google Forms
How to sell a mansion for $350M? Use Google Forms
From left: Isaac Zion with JMC Holdings' Matthew Cassin (left) and David Taylor (right) (Photos via SL Green; JMC)
Former SL Green exec Isaac Zion joins Acram Group
Former SL Green exec Isaac Zion joins Acram Group
(Photo illustration by The Real Deal)
Inside mall owner Namdar’s rapid growth story
Inside mall owner Namdar’s rapid growth story
Richard and Isaac Chera (Getty)
Chera family goes SPAC shopping
Chera family goes SPAC shopping
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...