New York City landlord group Ink forced to pay nearly $2M after allegedly violating rent stabilization laws
NEW YORK -- A New York City landlord group accused of violating rent stabilization laws is being forced to pay nearly $2 million.
"They lied, and they cut corners to avoid rent stabilization. While New Yorkers grappled with soaring rents and they struggled to find affordable housing, this company made quick cash by preying on vulnerable individuals and families," Attorney General Letitia James said.
James says Ink Property Group bought dozens of rent-stabilized buildings and illegally forced out tenants to offer units at market price.
In a settlement with the state, Ink must pay $1.75 million to preserve affordable housing and $400,000 in restitution to impacted tenants.
