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08-31-2010, 04:27 PM
Amanda Fung - In yet another victory for tenants, a state Supreme Court judge ruled late Monday against Laurence Gluck declaring that the landlord unlawfully deregulated rents at Independence Plaza North, a big downtown Manhattan residential complex, while receiving tax breaks.
The decision is the latest blow to the landlord, who has prospered by buying Mitchell-Lama housing projects, which are rent-stabilized properties, in the city and then taking them out of the program and raising rents. Independence Plaza, a 1,331-unit complex in TriBeCa was taken out of the Mitchell-Lama program in 2004. The lawsuit, which was filed five years ago, claims that Mr. Gluck unlawfully turned the building into a market-rate property while still accepting J-51 tax breaks from the city.
“I am happy about the decision, but it is tempered by the fact it took this long,” said Seth Miller of Collins Dobkin & Miller who represents the tenants in this case. Mr. Miller refused to disclose the amount of rent overcharges that might be due to his clients as a result of the ruling. He also added that he expects Mr. Gluck to appeal the decision.
More... (http://www.crainsnewyork.com/article/20100830/REAL_ESTATE/100839980)
The decision is the latest blow to the landlord, who has prospered by buying Mitchell-Lama housing projects, which are rent-stabilized properties, in the city and then taking them out of the program and raising rents. Independence Plaza, a 1,331-unit complex in TriBeCa was taken out of the Mitchell-Lama program in 2004. The lawsuit, which was filed five years ago, claims that Mr. Gluck unlawfully turned the building into a market-rate property while still accepting J-51 tax breaks from the city.
“I am happy about the decision, but it is tempered by the fact it took this long,” said Seth Miller of Collins Dobkin & Miller who represents the tenants in this case. Mr. Miller refused to disclose the amount of rent overcharges that might be due to his clients as a result of the ruling. He also added that he expects Mr. Gluck to appeal the decision.
More... (http://www.crainsnewyork.com/article/20100830/REAL_ESTATE/100839980)