New York Attorney General Letitia James on Monday announced the first settlements under a compliance program targeting buildings designated as “de facto” rent stabilized across New York City.
The Office of the Attorney General secured $90,000 from Deutsche Bank National Trust Company and U.S. Bank National Association after both failed to register rent-stabilized units in Brooklyn with New York State Homes and Community Renewal.
The properties had previously been determined by courts or the state housing agency to fall under rent stabilization because earlier alterations increased unit counts above the legal threshold…