On June 14, 2019, the governor signed into law Chapter 36 of the laws of 2019, known as the “Housing Stability and Tenant Protection Act of 2019,” (HSTPA). New York State landlords were sent reeling. While the HSTPA undoubtedly cut profitability in residential housing, contrary to common perceptions, it did not remove all paths out of rent regulation.

Exit paths HSTPA left untouched were demolition, substantial rehabilitation and conversion to residential use, new construction, conversion to and from commercial use, and economic infeasability.

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