Member Alexander Lycoyannis was invited by the Marcus & Millichap New York Multifamily Team to speak on a Quarterly Policy Update Webinar alongside CHIP Executive Director Jay Martin. Together, they addressed current issues at the forefront of the real estate industry, including delays in finalizing the 2023 New York State budget and concerns over the potential passage of the Good Cause Eviction bill. While discussing the future of rent regulation in NYC and its impact on owners and landlords, Alex also discussed the pending constitutional challenges to the Rent Stabilization Law and the plaintiffs’ forthcoming petition for review by the United States Supreme Court. Alex also fielded questions about Rosenberg & Estis’s recent victory in Casey v. Whitehouse, in which the Court of Appeals unanimously held that in the rent overcharge context, the punitive default rent formula is applicable only where a tenant demonstrates that a fraudulent scheme to deregulate an apartment tainted the reliability of the base date rent.
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