The Impact of Roberts v. Tishman Speyer Properties, L.P., on New York Real Estate and Practice

On October 28, 2009, the New York office issued an Alert Memo entitled “The Impact of Roberts v. Tishman Speyer Properties, L.P., on New York Real Estate and Practice.” On October 22, 2009, the New York Court of Appeals issued its decision in Roberts v. Tishman Speyer Properties, L.P., regarding Stuyvesant Town and Peter Cooper Village and holding that landlords who receive property tax benefits for building rehabilitation expenses cannot exempt apartments in those buildings from New York’s rent regulation laws. The memorandum summarizes the Roberts decision and its potential impact on thousands of properties throughout New York City, their landlords, investors, and tenants.