New York S01217 aims to penalize individuals who intentionally withhold housing accommodations from the market, including for future co-operative.

New York S01217 amends the administrative code of the city of New York and the emergency tenant protection act of 1974 to address the practice of "warehousing" housing accommodations. The bill introduces penalties for those who intentionally withhold housing accommodations from the market, including for future co-operative conversion. The commissioner may impose civil penalties for violations, with fines starting at $2,000 for the first offense and increasing to $10,000 for subsequent offenses or cases involving multiple accommodations.

New York S01217 aims to penalize individuals who intentionally withhold housing accommodations from the market, including for future co-operative.

New York S01217 amends the administrative code of the city of New York and the emergency tenant protection act of 1974 to address the practice of "warehousing" housing accommodations. The bill introduces penalties for those who intentionally withhold housing accommodations from the market, including for future co-operative conversion. The commissioner may impose civil penalties for violations, with fines starting at $2,000 for the first offense and increasing to $10,000 for subsequent offenses or cases involving multiple accommodations.