Emerald Equity Must Re-Regulate Apartments and Return Over $50,000 in Overcharged Rent to Tenants
NEW YORK – New York Attorney General Letitia James and New York State Homes and Community Renewal (HCR) Commissioner RuthAnne Visnauskas today announced the re-regulation of 21 New York City apartments owned by Emerald Equity Group, LLC (Emerald), a real estate company with a number of buildings in East Harlem, Manhattan. An Office of the Attorney General (OAG) and HCR investigation found that Emerald had improperly and illegally deregulated rent-stabilized units, overcharged tenants, and failed to keep tenants’ security deposits in separate accounts as required by law. In addition to returning the illegally deregulated apartments to rent stabilization, Attorney General James is requiring Emerald to repay $54,799.66 to the tenants who were overcharged for their rent.
“Emerald blatantly ignored rent stabilization laws, denying many New Yorkers access to affordable, reliable housing,” said Attorney General James. “By returning these units to rent stabilization and ensuring tenants are reimbursed for overcharges, we are bringing justice to the families that Emerald harmed and ensuring more fair and equitable housing for future renters. Every New Yorker deserves a fair, stable, and secure place to live.”…