Unbelievable
Yesterday the Mamdani Administration submitted its objection to the bankruptcy sale of a property arguing that the sale shouldn’t go through because the laws in which the mayor has advocated for have made the building an unsustainable business.
To interpret what this means. It’s the city of New York validating in court that the rent stabilization system as it exists is a taking.
Yesterday the Mamdani Administration submitted its objection to the bankruptcy sale of a property arguing that the sale shouldn’t go through because the laws in which the mayor has advocated for have made the building an unsustainable business.
To interpret what this means. It’s the city of New York validating in court that the rent stabilization system as it exists is a taking.
Again, this validates in court documents that the administration knows the current rent levels make the building unsustainable to operate.
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