After months of build-up and the solicitation of responses from the city and state, the Supreme Court has decided not to hear an appeal about the legality of rent-stabilization, according to NBC. The case was that of James Harmon, an Upper West Side landlord who argued that the city's rent laws were the equivalent of illegally taking his property and not compensating him fairly for it. A lower appeals court had already thrown out Harmon's case, so the Supreme Court was his last hope.
Harmon's Upper West Side tenants pay between $908.72/month and $1,298.24/month. (The UWS has a total of 30,420 regulated units.) The median stabilized rent in Manhattan below 96th Street is $1,480/month. And so it will remain until this issue comes again, which it no doubt will soon.
· Supreme Court Won't Hear Appeal Over NYC Rental Control [NBC New York]
· UWS Landlord Takes Rent Regulations to Supreme Court [Curbed]
· How Much Does a Rent-Stabilized NYC Apartment Cost? [Curbed]