Landlords Sue NYC Over New Rent Caps on a Million Apartments
- Plaintiffs claim ‘arbitrary restrictions’ violate Constitution
- Suit follows sweeping June update by Democratic legislature
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New York City’s rent-stabilization law is under attack after a group of real-estate trade groups and landlords sued to overturn regulations that cover more than 1 million apartments.
The decades-old law that limits rent increases violates the U.S. Constitution by placing an unfair burden on property owners, particularly those who own pre-1974 buildings with six or more units, according to the suit, filed Monday in federal court in Brooklyn.