Glambosky and Honig victoriousSeptember 16, 2015 |
Erez Glambosky and Jeremy Honig obtained a significant victory on behalf of developer/landlord Naftali Group in a fair market rent appeal proceeding before the New York State Division of Housing and Community Renewal. The Rent Administrator affirmed a prior decision that was issued in April 2015, which decision was subjected to reconsideration upon the tenant’s request. Applying the complex mathematical marketability formula, including the use of historical comparable rents, Glambosky and Honig argued that the subject apartment’s initial fair market rent was not subject to rent regulation because it exceeded the deregulation threshold. The Rent Administrator was persuaded and completely agreed with Glambosky and Honig. The April 2015 decision was affirmed and the proceeding was dismissed.
Click here to read the Decision.