Bryant Avenue Tenants' Association v. Koch

Wallach and Rubin, JJ.,

dissent in a memorandum by Wallach, J., as follows: Under the New York City Rent Stabilization Law (RSL; Administrative Code of City of NY, tit 26, ch 4), rent adjustments are established on an area-wide basis by a Rent Guidelines Board ("RGB”), based upon economic conditions, cost of living indices and other factors in the neighborhood in question (Administrative Code § 26-510). The law further provides for rent increases on a building-wide basis, to compensate a landlord for major capital improvement ("MCI”) expenditures, where appropriate application is filed with…