Loading chat...
NY A01867
Bill
Status
1/14/2025
Primary Sponsor
Linda Rosenthal
Click for details
AI Summary
-
Requires building owners seeking to refuse lease renewals for demolition purposes to establish their intent to the Division of Housing and Community Renewal, rather than simply claiming intent to demolish
-
Mandates that owners must demonstrate good faith intent to demolish the existing building and construct a new building in its place
-
Requires owners to obtain a demolition permit from the Department of Buildings and submit construction plans for a new building for approval before refusing lease renewals
-
Adds a new requirement that owners must prove they have the financial ability to complete both the demolition and the new construction project
-
Takes effect immediately and expires on the same date as the underlying rent stabilization provisions in section 26-520 of the NYC Administrative Code
Legislative Description
Relates to requirements for a building owner to refuse to renew a lease under the real estate industry stabilization code; requires the owner of a building to be demolished to prove that such owner has the financial ability to complete demolition of the building.
Last Action
ordered to third reading cal.71
1/7/2026