Glambosky and Honig Obtain Critical Victory for Naftali GroupApril 16, 2015 |
For the second time this month, Erez Glambosky and Jeremy Honig obtained a critical victory for developer/landlord Naftali Group against a tenant who challenged the regulatory status of his apartment.
The Division of Housing and Community Renewal (“DHCR”) denied the tenant’s fair market rent appeal, rejecting tenant’s argument that the initial rent at the time he moved into the apartment was below the $2,000 statutory threshold required for the apartment to be rent stabilized.
Utilizing the complex mathematical statutory market comparability formula, Glambosky and Honig successfully demonstrated to the DHCR that the initial rent for this tenant exceeded $2,000 per month. Consequently, the DHCR determined that the apartment is exempt from rent regulation.
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