For the second time in its current term, the U.S. Supreme Court has declined to hear an appeal of a lower court's ruling upholding New York City's rent stabilization law.
The top court on Tuesday declined to hear appeals of lawsuits filed by two multifamily property owners, Pinehurst 74 LLC and 335-7 LLC, who argued that NYC's Housing Stability and Tenant Protection Act of 2019 violates the Fifth Amendment's "Takings Clause" governing property seizures.
A year ago, a panel of three federal judges on the U.S. Court of Appeals for the Second Circuit affirmed a September 2020 ruling in NY's Eastern District that dismissed the owners' case and another lawsuit filed by two associations representing landlords.
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