Property management companies inflated and falsely stated renovation costs for rent-stabilized apartments in an attempt to deregulate them, the New York Attorney General's Office said.
August 23, 2022 at 06:13 PM
4 minute read
Litigation Reporter
The New York Attorney General’s office has secured a $4 million settlement from 29 New York City landlords over allegations of a scheme aimed at deregulating rent-stabilized properties.
According to an announcement from the state attorney general, New York AG Letitia James’ team uncovered an illegal kickback scheme by the management companies they employed to deregulate hundreds of rent-stabilized apartments.
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New York Attorney General Letitia James Photo: Ryland West/ALM
