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Preferential Rent

Despite Attempts at Clarification, Disputes Abound

Wednesday, May 7, 2008

By Warren A. Estis and Jeffrey Turkel

Warren A. Estis, a founding partner at Rosenberg & Estis, and Jeffrey Turkel, a partner at the firm, write that under the Rent Stabilization Law and Code, the "legal" rent for an apartment is the rent charged on the base date, plus applicable Rent Guidelines Board increases. Owners, however, are free to charge tenants a "preferential rent," i.e., a rent below the legal rent. However, once an owner charged a lower, preferential rent, all future rents for that apartment would be based on the lower amount.

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Realty Law Digest

Wednesday, May 7, 2008

By Scott E. Mollen

Scott E. Mollen, a partner at Herrick, Feinstein and an adjunct professor at St. John's University School of Law, analyzes recent cases, including the defeat of a neighborhood activist group opposing a massive redevelopment project in Brooklyn and a finding that a tenant was not entitled to recover attorneys' fees.

Free With Registration: Marketplace

Wednesday, May 7, 2008

By Justin Smulison

Related Companies has been selected by the New York City Economic Development Corporation to redevelop the castle-like Kingsbridge Armory in the Bronx. Also, Innovative Fashion Group, a subsidiary of Adjmi Apparel Group, has leased 10,500 square feet on the 22nd floor of 1400 Broadway, where average asking rents in the building are $55 per square foot.

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