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A New York City man was awarded $900,000 after his landlord overcharged him for years

Published by Business Insider on Mon, 11 Jan 2016


Score one for the little guy! After having his rent-stabilized apartment illegally deregulated and his rent jacked up to more than five times what it should have been, an appellatecourt has awardedUpper West Side man Lane Altschuler $900,000 in damages,andtheyvere-stabilized his 1,500-square-foot pad to just $784 a month.According to the Daily News,Altschulermoved into the three-bedroom, two-bath unitat478 Central Park Westback in 2000, but his landlord, Mann Realty, illegally began raising the rent shortly after he got settled. The figure eventually balloonedto $3,750 a month in 2009, rightafter the building was converted into luxury condos.The judges agreed the landlord should never have jacked the monthly cost above mandated levels because the city provided owner Jobman 470/480 LLC with J-51 tax abatements,writes the News. The abatements are said to have been over $310K and the deregulation by Mann Realty, whichallowed for the rent increases, was kept a secret from state regulatorsa willful violation of state law.In suing, Altschuler initially set out to simply get his rent lowered and the money he had been overcharged back. But to his luck, he ended up with far more. In all,Altschuler received$876,619.10 plus interest andhis rent dramatically decreased to just under $800. And although the J-51 abatement on the building is about to end, hell benefit from the low rate until he decides to move out.Bysome estimatesthe apartment could beworth around $2.5 million dollars.The attorney representing the landlord, Magda Cruz,said to the News that her client had no malintent. [The landlord] believed at all times it was acting in accordance with the rent laws, said Cruz. The extreme penalties that the appellate court has now upheld, without any trial, are unprecedented.Wondering if youre being duped' Find out if your apartment is rent-stabilized here.RELATED:Rent Stabilization Demystified: Know the Rules, Your Rights, and if Youre Getting CheatedNew Website Will Help New Yorkers Find Out if Their Apartment Is Rent StabilizedAffordable Housing Lottery Kicks Off at 1770 Madison AvenueUnits Start at $822/MonthSEE ALSO:The 8 best New York City neighborhoods for first-time home buyersJoin the conversation about this storyNOW WATCH: The median sale price of a Manhattan apartment is now $1.15 million
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