A federal appeals court this week tossed out two lawsuits, backed by NYC landlords, that sought to challenge New York's rent reform and rent stabilization law, passed by the state legislature in 2019.
Landlord groups who were plaintiffs in one of the lawsuits immediately said after the ruling was handed down that they would appeal the case to the US Supreme Court, which could set the stage for the high court to weigh in on rent control.
The decision by a panel of three Second Circuit judges affirmed a September 2020 ruling in NY's Eastern District Court that had dismissed the lawsuits. The appeals court agreed with the lower court's decision that building owners had failed to prove in their arguments that the 2019 rent reform law was an unconstitutional infringement on their property rights.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
