Once upon a time there was a landlord who received city tax credits in exchange for maintaining some rent stablized apartments in the property on which he collected rents, 478 Central Park West.
But, as is often the way, this exchange slipped the landlord’s mind and when a new tenant, Lane Altschuler, moved into one of these apartments in 2000 he was initially charged $3,500 rent per month, rising later to $3,725 per month, charges which were well in excess of a rent stabilized rent.
Now we don’t know why this hard done by renter took 13 years to sue but Lane, who is a Construction Industry adviser, obviously worked it out and in 2013, sued his landlord for overcharging him and requesting that his rent be reduced back to the current rent stablization rate.
In 2015 after a second hearing on the matter the cheating landlard was ordered to let Lane have his 3 bedroom apartment with 2 bathrooms overlooking Central Park and worth around $2.5 million for $784 a month until he chooses to leave AND the judge also ordered that he be repaid $876,619.10 in overcharged rent.
Oh real estate victory is sometimes very, very sweet.