New York S01642 mandates replacement of rent-stabilized housing lost to fire, natural disaster, act of God, act of war, or eminent domain in any new.
New York S01642 amends the administrative code of New York City to require that rent-stabilized housing accommodations lost or destroyed due to fire, natural disaster, act of God, act of war, or eminent domain be replaced in any succeeding construction on the same parcel. The replacement housing must be substantially similar to the lost accommodation and subject to the same provisions, with an initial maximum rent equal to the maximum rent of the lost housing accommodation.
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- Core Provisions
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- Impact
- Legal Framework
- Critical Issues
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