Plaintiffs in a lawsuit against the Blackstone Group are targeting a legal gray area that could permanently lock scores of New York City apartments into rent-regulation, if their claim holds up in court. J-51, an incentive program that provides the city’s landlords with a tax exemption for building-wide improvements, also places those units in rent-stabilization for the period the benefits are received. And what happens to some of those units after the benefits expire has
source https://therealdeal.com/2020/03/11/trapped-in-rent-regulation-stuy-town-case-raises-broader-j-51-concerns/
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