Lindsay Lohan’s younger brother, Michael Lohan Jr., is being sued for allegedly cashing in on the Big Apple real estate market by illegally deregulating more than 150 rent-stabilized apartments, state Attorney General Letitia James said.
The Hollywood star’s sibling is among a handful of property honchos tied to Peak Capital Advisors who were involved in an alleged scheme to oust tenants in rent-stabilized apartments in Brooklyn and Queens so they could renovate the buildings into luxury lofts and market them to young professionals for upward of $6,500 per month in some cases, according to the lawsuit.
The suit, filed last week, alleges that the real estate development company’s bigwigs bought up 31 buildings across the two boroughs dating back to 2019 — including in trendy neighborhoods like Greenpoint and Williamsburg.
They then converted 159 rent-stabilized apartments in those buildings to market-rate so they could overcharge tenants scrambling to live in those areas, court filings allege…