February 28, 2025
Twenty-one Harlem residences will return to lease stabilization after being illegally overcharged for lease.
Twenty-one condominium items in East Harlem, the place a landlord overcharged tenants by greater than $50,000, shall be reinstated as rent-stabilized.
An investigation by New York Lawyer Common Letitia James revealed that Emerald Fairness Group, LLC, an actual property agency with 13 buildings in East Harlem, unlawfully deregulated rent-stabilized items and overcharged tenants, Patch experiences. Together with restoring the deregulated residences to rent-stabilized standing, James calls for that Emerald repay $54,799.66 to unlawfully overcharged tenants.
Courtroom paperwork reveal that the owner didn’t keep tenants’ safety deposits in separate accounts, as mandated by legislation. In response to James, though the owner has filed for chapter, the buildings shall be transferred to Emerald’s lender, who will be sure that the brand new house owners are held to the identical settlement.
“Emerald blatantly ignored lease stabilization legal guidelines, denying many New Yorkers entry to reasonably priced, dependable housing,” James mentioned.
The condominium buildings with illegally destabilized leases are:
- 203 West 107th Road
- 210 West 107th Road
- 220 West 107th Road
- 230 West 107th Road
- 124 – 136 East 117th Road
- 215 East 117th Road
- 231 East 117th Road
- 235 East 117th Road
- 244 East 117th Road
- 316 East 117th Road
- 322 East 117th Road
- 326 East 117th Road
- 1661 Park Avenue
On account of the investigation, Emerald is legally required to reinstate the 21 residences to lease stabilization inside 60 days and refund the surplus lease collected from tenants inside 30 days. The owner should additionally notify all affected tenants in regards to the adjustments and arrange separate accounts for safety deposits inside 30 days.
James said that if Emerald fails to satisfy these deadlines, the owner will incur a $500 day by day penalty till every violation is rectified.
“By returning these items to lease stabilization and making certain tenants are reimbursed for overcharges, we’re bringing justice to the households that Emerald harmed and making certain extra honest and equitable housing for future renters,” James mentioned.
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