Sherwin Belkin Quoted in The Real Deal on Rent-Stabilization Challenges and Substantial Rehabilitation

In Erik Engquist’s recent article for The Real Deal, “Rent control escape is possible, but ain’t easy,” Sherwin Belkin, co-founding partner of Belkin Burden Goldman LLP, was quoted on the increasing inquiries from landlords about deregulating distressed rent-stabilized buildings through demolition or substantial rehabilitation.

Belkin noted, “I am absolutely getting many more inquiries,” reflecting the growing financial strain on owners of fully rent-stabilized properties. He also weighed in on the controversial denial of a sub-rehab application for 117 North Fourth Street in Williamsburg based upon DHCR finding that a vacancy due to a buyout undermines the required deteriorated condition of the building, stating, “Having bought a tenant out is not probative or even relevant to the physical condition of the building.”

The article highlights the battle landlords face in navigating HCR’s evolving criteria, especially after the repeal of the 80% vacancy presumption. Belkin’s insights underscore the legal and regulatory complexities surrounding rent stabilization in NYC’s current housing climate.