Following the State Supreme Court's Appellate Division ruling to grant Tishman Speyer a stay in the decision that declared the landlord had improperly charged high rents for thousands of apartments—a stay that will give Tishman the chance to work on an appeal that may or may not be granted—the NYT talks to the vast array of real estate industry folks girding for battle over the decision, which (cue ominous music!) "could affect as many as 80,000 apartments in the city, trigger widespread defaults on loans, eliminate construction jobs and reduce property tax revenues for the city." This one's gonna be a doozy. [City Room/NYT]
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