Judge’s ruling could “open the floodgates” on IAI fraud cases – Robert Khodadadian

Landlords who raised rents by inflating apartment improvements before the rent law changed got some unwelcome news from a Manhattan judge. Supreme Court Justice Sabrina Kraus granted class-action status last month to tenants of 11 rent-stabilized buildings in a suit against Big City Management and Magnolia Holdings. The ruling could “open the floodgates” for multi-building class actions, Aaron Carr, executive director of Housing Rights Initiative, told City Limits. The nonprofit advocacy group and the law

Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties specializes in off-market or “quiet” real estate transactions, allowing buyers and seller to bypass traditional avenues and extraneous expenses of high-profile listings in the New York City area. Commercial Real Estate, Home Page, division of housing and community renewal, Rent stabilization The Real Deal New York Read More

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