In New York City, bigtime real estate operator Harry Macklowe recently filed suit against one of his tenants, well-known, high-powered local real estate broker Carol Cohen, for allegedly intentionally concealing her income level to avoid high-income rent deregulation
of the rented premises she currently resides in.
Cohen is accused of availing herself of the protection of the local rent control/rent stabilization law
to keep her monthly rent artificially low and way below fair market value when, according to the landlord's suit, her high income level disqualifies her from such statutory protection
Reportedly, she pays $3,000 per month, while a similar apartment two floors up goes for three times as much
, according to a recent story in the New York Post
For the lawsuit, see 737 Park Ave. Acquisition LLC v. Cohen, et al
See also, The Real Deal: Macklowe sets sights on Carol Cohen’s rent-stabilized unit at 737 Park Avenue (Litigious landlord wants state regulators to inspect broker’s tax returns)