Loading chat...
NY S02134
Bill
Status
6/10/2025
Primary Sponsor
Liz Krueger
Click for details
AI Summary
-
Strengthens requirements for landlords seeking to refuse lease renewals in rent-stabilized buildings slated for demolition in New York City
-
Requires building owners to establish to the Division of Housing and Community Renewal that they intend in good faith to demolish and construct a new building
-
Mandates owners obtain a demolition permit from the Department of Buildings and submit construction plans for a new building before refusing lease renewals
-
Adds a new requirement that owners demonstrate financial ability to complete both the demolition and new construction projects
-
Takes effect immediately and expires on the same date as the underlying rent stabilization provisions in Administrative Code section 26-520
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
REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
1/7/2026