Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-In reporting Thursday’s state Supreme Court ruling that former owner MetLife may be held liable for rent overcharges to thousands of tenants at the massive Peter Cooper Village/Stuyvesant Town multifamily complex, the New York Law Journal quoted attorney Mitchell Posilkin as saying the decision’s impact was “potentially devastating.” Posilkin is general counsel for the Rent Stabilization Association of New York, which was involved in the case as an amicus. He told the NYLJ, sister publication to GlobeSt.com, “There has been wholesale reliance” over the years by the real estate community on city and state housing authorities’ interpretations of the laws governing luxury deregulation of rent-stabilized apartments.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.