In this month’s RSA Reporter is a discussion under noteworthy decisions about the appeal KMWB Partner Joseph Goldsmith won before the NYS Court of Appeals in Aurora Associates v. Locatelli, 2022 NY Slip Op 00958 (2022). In Locatelli the NYS Court of Appeals, the highest Court in the State, issued its decision in favor of owners in a case argued by KMWB Partner Joseph Goldsmith. In its decision, the Court of Appeals found and held illegal loft conversions are not covered by Rent Stabilization and a unit covered by the Loft Law, exempted from that statute’s rent regulation regime by operation of a sale of a prior tenant’s rights and improvements, is not subject to Rent Stabilization.
KMWB endeavors to continue to be at the forefront of these fraught and challenging issues of rent regulation and fighting on behalf of the New York real estate community. If you have any questions, please do not hesitate to contact Joseph Goldsmith at 212-869-5030.