A state appeals court Tuesday ruled a Tribeca building owner may not use a high-income renter deregulation law to increase rent after being blocked from doing so under a separate, but related tax abatement law.
The Appellate Division, First Department, determined the building owner, Tribeca Equity Partners, can’t use Real Property Tax Law 421-a(2)(f)(i), which allows landlords to deregulate rent stabilized properties when the renter has a high income.
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