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[A slightly different version of this story appeared in the New York Law Journal]

NEW YORK CITY-The owner of a Chelsea apartment complex cannot retroactively leave the J-51 tax abatement program and deregulate its apartments by repaying all the tax credits it received, a unanimous state appellate panel ruled yesterday, the latest in a line of decisions clarifying the implications of the Court of Appeals’ ruling in Roberts v. Tishman Speyer.

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