Court of Appeals Decision in the Matter of Mercedes Casado, et al. v. Marvin Markus

The Court of Appeals issued a decision with respect to this landmark case. The lower Courts had determined that the New York City Rent Guidelines Board did not have the authority to allow for dollar based, rather than percentage based, increases in low-rent apartments that had not had a vacancy in the past six (6) years, (thus declaring the dollar amount increases of Rent Guideline Board Orders Numbers 40 and 41 invalid.) The Court of Appeals reversed that decision.

Prior to this, we had spoken with several clients with respect to renewal leases and how to treat them in light of the lower court decision. It appears that there are likely no appeals left to be taken in this matter so the Court of Appeals decision is final.

Please contact any of the attorneys at the firm with questions concerning how to deal with this new decision and leases/riders that were executed while this appeal was pending.

To read the decision, click here

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