The Supreme Court will consider on Nov. 1 whether to hear a challenge to New York’s sweeping rent control law, which gives a building’s tenants veto power over condominium conversions.
The Supreme Court announced on Oct. 28 that it will consider the petition in G-Max Management Inc. v. State of New York during its private conference at the end of this week.
According to building owners petitioning the Supreme Court, New York’s Housing Stability and Tenant Protection Act of 2019 transformed “a temporary rent-regulation system into a permanent expropriation of vast swaths of private real estate, without just compensation, in the name of ‘affordable housing.’”…