Bill > S09914

This bill requires property owners in New York City to maintain the rent-regulated status of housing units after demolition and new construction or substantial renovation, particularly when these actions are taken under specific circumstances such as falsely reporting no tenants occupied a building, due to owner negligence, by violating building codes, or as part of a project defined by the Urban Development Corporation Act. "Rent regulated status" refers to housing that is either rent controlled or rent stabilized, meaning the rent is subject to legal limits and protections under laws like the Emergency Tenant Protection Act of 1974 and the Emergency Housing Rent Control Law. When these situations occur, owners must dedicate an equal number of new or renovated units, of equivalent size, to the same rent-controlled or rent-stabilized status, at the rent amount previously allowed for the original units. Furthermore, former tenants who occupied the units before the demolition or renovation have the right to be offered these new or renovated units first.

Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/S9914