Legal Community Divided on NY Lawmakers' 'Landmark' Housing Deal

Real Estate attorney Alexander Lycoyannis was quoted in a New York Law Journal article about New York's recently passed landmark housing deal. The deal includes a reduced version of the Good Cause Eviction bill, providing new protections against evictions and rent hikes for some renters, as well as measures to spur affordable housing construction through tax incentives and zoning changes. Mr. Lycoyannis commented that the final language in the "Good Cause" provisions of the legislation is more lenient than what was originally proposed, noting it aimed to regulate lower- to middle-income units while excluding certain properties like co-ops and high-end rentals.

"Generally, the governor and legislative leaders recognized the Salazar bill was a nonstarter, that it couldn’t be anything that would be part of a sensible housing package," he said.

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