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Sobel v. Higgins
New York Supreme Court
573 N.Y.S.2d 1000 (1991)
- Written by Darius Dehghan, JD
Facts
The City of New York (city) (defendant) had a rent-control law that served the purpose of preserving affordable housing. Under the law, a landlord of a rent-controlled property was generally not permitted to withdraw the property from the rental market. But the law allowed for an exception if a landlord’s net annual return fell below 8.5 percent of the value of the property. Denise Sobel (plaintiff), the landlord of a rent-controlled property in the city, brought suit to challenge the law. Specifically, Sobel contended that the law constituted a regulatory taking, thereby entitling her to just compensation. The city filed a motion to dismiss. The trial court took the motion under advisement.
Rule of Law
Issue
Holding and Reasoning (Schoenfeld, J.)
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