Grill and Tare Obtain DHCR Approval for Redevelopment of 985 Fifth Avenue

Rivkin Radler LLP is pleased to announce that the New York State Division of Housing and Community Renewal (DHCR) has approved applications submitted on behalf of its client, 985 Land Holding LLC, a development firm run by former Governor Eliot Spitzer, permitting the recovery of possession of all rent-stabilized apartments at 985 Fifth Avenue in connection with the planned redevelopment of the property.

Following a lengthy and rigorous administrative proceeding, DHCR concluded that the owner had satisfied all requirements for demolition under New York’s rent regulatory framework. The agency’s decisions reflect the extensive planning, financing, and governmental approvals assembled in support of the project and reject challenges raised during the course of the proceeding.

The demolition proceedings were handled by David M. Grill and Joshua M. Tare, partners at Rivkin Radler.

“Obtaining demolition approvals for an occupied rent-stabilized building is among the most challenging proceedings under New York’s housing regulations,” David said. “We are proud to have helped our client navigate this complex process and achieve a result that allows the project to move forward.”

The approvals represent a significant milestone for the owner and clear the path for redevelopment of the property.

To read the related Real Deal article, click here.