Bill > A06297

This bill requires property owners to preserve rent-regulated housing units under specific circumstances involving demolition and renovation. If a residential building with rent-controlled or rent-stabilized units (protected by various housing laws) becomes uninhabitable or is vacated due to demolition or substantial renovation, the property owner must, upon completing construction, dedicate an equal number of units with equivalent sizes at the same previous rent-regulated status. The bill applies specifically to situations such as: (1) filing building permits with false claims about tenant occupancy, (2) renovations necessitated by landlord negligence, (3) renovations required due to illegal code violations, and (4) renovations authorized under urban development corporation projects. Additionally, the tenants who occupied the units prior to demolition or renovation have the right of first refusal to occupy the new or renovated units. This legislation aims to protect tenants from losing their rent-regulated status due to property redevelopment and ensures a consistent supply of affordable housing units in New York City.

Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/A6297