Friday, May 05, 2017

Major NYC Landlord Targeted In Lawsuit Alleging Rent Overcharges For Rent-Stabilized Tenants, Violating Terms Of Local Property Tax Abatements

In New York City, The Real Deal (NYC) reports:
  • Larry Gluck’s Stellar Management is facing a lawsuit for allegedly overcharging dozens of rent-stabilized tenants, violating the terms of property tax abatements the company receives from the city.

    Fifty-nine tenants from more than a dozen of Stellar’s buildings say the landlord abused the J-51 tax abatement, a city subsidy for multifamily properties that requires landlords to keep apartments in the rent-stabilization program, the Wall Street Journal reported.

    The action against Stellar in New York State Supreme Court came together following an investigation by the Housing Rights Initiative ["HRI"],(1) a nonprofit that’s inspired similar actions against New York City landlords receiving J-51, such as A&E Real Estate Holdings. It also comes in the wake of a mildly successful initiative by Gov. Cuomo to crack down on landlords who flouted J-51 regulations.
    According to the HRI’s Aaron Carr, Gluck filed 3,900 eviction cases against tenants between 2013 and 2015 alone.
For more, see 59 tenants sue Gluck’s Stellar Management claiming rent overcharges (Group organized by nonprofit HRI seeking class-action status).

See also, A group of about 60 apartment residents contends in a lawsuit filed in Manhattan that Stellar Management illegally overcharged them.
(1) The Housing Rights Initiative is a nonprofit community organizer dedicated to the advocacy of the rights of rent-stabilized tenants in New York City.

Links to this post:

Create a Link

<< Home