2017-08-15therealdeal.com

``According to the complaint, apartments at the building had for more than two decades enjoyed a temporary reprieve from the burdens of rent stabilization, due to a law that makes exceptions for buildings used for institutional purposes, such as for schools, hospitals or religious organizations. With the Kushner Companies acquisition, the building went back into the private sector, and the building's apartments were required to become rent-stabilized again. But Kushner Companies did not comply with that requirement, according to the lawsuit, filed Tuesday in Kings County State Supreme Court, and instead leased many apartments in the building at market rates.''



Comments: Be the first to add a comment

add a comment | go to forum thread