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With a set of class action lawsuits filed Thursday in Kings County Supreme Court, Newman Ferrara partner Lucas Ferrara said he’s exposing a form of “cheating” by residential property owners that may affect thousands of tenants citywide.

The lawsuits describe a scheme allegedly conducted by landlords of buildings in New York’s 421-a tax incentive program, which requires units to be rent stabilized for the duration of the tax benefit period. The landlords must report the initial rent “charged and paid by the tenant” to the state’s Division of Housing and Community Renewal, and future rent increases are restricted based on the amount of the initial rent.

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Jane Wester

Jane Wester is a litigation reporter for the New York Law Journal. Email her at [email protected] or find her on Twitter @janewester.

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