Matthew Brett and Adam Jernow
The much-debated constitutionality of the controversial Altman v. 285 West Fourth LLC case was explained and discussed in great detail today by rent regulation specialist Matthew Brett Esq., a partner at New York City-based Belkin Burden Wenig & Goldman.
The pending decision by The Court of Appeals, New York’s highest court, if it upholds the Altman case, could result in the re-regulation of more than 130,000 currently deregulated units in New York City, having a disastrous financial impact on owners of multifamily residences.
“Altman maintains that deregulation should be based on the rent charged to the outgoing tenant, not the incomingtenant,” said Mr. Brett, whose firm is acting on behalf of major organizations including RSA, CHIP, REBNY, SPONY and AOAC in support of Altman’s demise and the return to longstanding rent deregulation practices, which have been in place for about 20 years.
“For decades,” continued Mr. Brett, “landlords have deregulated rent-stabilized apartments by lawfully taking rent increases that brought an outgoing tenant’s legal rent over the deregulation threshold.”
The intimate breakfast Q4 Summit held at Sarabeth’s in Tribeca was attended by more than 30 real estate professionals. It was hosted by WayfinderPM, an innovative, leading-edge property management firm utilizing the latest and most advanced software technology to more efficiently serve clients.
About Belkin Burden Wenig & Goldman LLP
BBWG, established in 1989, is a full-service real estate law firm with offices in New York and Connecticut. The firm has more than 50 seasoned lawyers counselingbusiness professionals, investors, landlords, residential homeowners and commercial property owners throughout the region in complex transactional and regulatory real estate law matters. www.bbwg.com
Established in 2008, WayfinderPM led by Principal and Founder Adam Jernow, is a full-service, rapidly growing property management/maintenance company offering a comprehensive range of service that cover all aspects of building management and maintenance.