Tete-à-tete with TRD: How landlords are dealing with New York’s new rent laws

Warehousing rent-regulated units, creating “Frankenstein” apartments and more in rent law news this week

TRD New York /
Aug.August 29, 2019 09:45 AM

As the real estate industry grapples with the new rent law, New York landlords have looked for ways to deal with the changes.

This week, sources told The Real Deal that Blackstone Group is “warehousing” as many as 50 apartments in Stuyvesant Town and Peter Cooper Village. That news comes just a month after the firm said it was halting renovations in the 11,000-unit complex as a result of the changes to the rent law. Also this week, a judge dismissed an overcharge case that could have opened the floodgates for similar cases after the lookback period was extended from four to six years. And other landlords are finding novel ways to operate under the new framework.

Check out the video above to hear senior reporter Kathryn Brenzel and reporter Georgia Kromrei discuss the above and more.

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