It's been just over two weeks since the last Apthorp lawsuit, so we've been experiencing serious Apthorp drama withdrawal. Thankfully, The Real Deal's David Jones comes through with news of the building's latest legal happenings. The developers have filed suit against the New York State Division of Homes and Community Renewal, alleging that the Apthorp is losing money because the housing agency is taking too friggin' long to deregulate 45 rent-stabilized apartments. (The 163-unit building is almost half rent-regulated, and those tenants' apartments have some, er, unique features.) The developers filed the deregulation application in June of last year, and they're hoping the court will force the agency to make a decision as a result of the lawsuit. Interesting strategy! So interesting, in fact, that the tenants' lawyers say they've never seen any other landlord use it. That's our Apthorp?always original!
· Apthorp developers sue state housing agency [Real Deal]
· Apthorp coverage [Curbed]