The City Council Is Taking Up a Much Stricter Form of Commercial Rent Control (Commercial Observer)
Commercial Observer, December 10, 2019
The City Council Is Taking Up a Much Stricter Form of Commercial Rent Control
Those real estate professionals who thought commercial rent control was safely slain might rightly be worried that they’re seeing ghosts. A new bill introduced by Brooklyn Councilman Stephen Levin on Nov. 15 would set up a form of rent control fashioned after the way the state handles rent-regulated apartments…. While Levin’s bill is new, the idea of commercial rent control in the city isn’t. The city had a form of it through a state law in 1945, but it expired in 1963, according to the New York City Bar Association.