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Wednesday, April 22, 2015

Overstaying Their Welcome

Tenants who rent out their units for short-term stays in violation of state law may want to pay particular attention to a recently filed lawsuit, in which United American Land sued an investment banker for renting out his rent-stabilized Tribeca apartment by the night. The real estate development and management company alleges in a New York Supreme Court lawsuit that William Terry Krueger, the co-founder and senior managing partner at Nova Capital Partners and the other tenant of record, Adrienne Kennedy, were renting out Unit 5SW at 118-120 Duane Street between Broadway and Church Street on a nightly basis.
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