Community Housing Improvement Program (CHIP), in a joint motion made with the Rent Stabilization Association (RSA) and the Real Estate Board of New York (REBNY), has been granted approval by the Appellate Division to file an amicus curiae brief in support of the appeal of the 2015 Altman v. 285 West Fourth LLC lawsuit. The holding in that case set out new standards for the calculation of legal rent, which in practice determines whether an apartment is subject to the rent stabilization laws. The Court ruled that the owner could not apply a vacancy increase allowance when a unit’s rent otherwise met the deregulation threshold of $2,700/month.

With the help of the amicus, CHIP will support the owner in appealing the Appellate Division’s order. If the appeal is granted, the case will then be sent to the Court of Appeals and will ultimately have an impact on tens of thousands of units currently subject to the rent stabilization laws. CHIP is able to comment on as the case continues to unfold. The Appellate Division is expected to rule on the owner’s request to appeal in October.

Community Housing Improvement Program is a trade association representing more than 3,500 apartment-building owners and 400,000 units of housing in New York City's five boroughs. Founded in 1966, CHIP has played a significant role in City and State housing policy. Defending the rights of New York’s municipal housing, it has served the industry as experts, leading councils, lobbyists, and information providers for 50 years. CHIP primarily focusses on subjects such as property taxes, zoning policies, lead paint, water rates, and rent regulation. CHIP represents major commercial and residential property owners and builders with memberships that extend to various institutions that are professionally invested in the city’s real estate. Please visit us online at http://chipnyc.com/