Gotlib’s Black Spruce sued for 421a rent hike

A new lawsuit alleges Josh Gotlib’s Black Spruce Management overcharged lease renewals at a Murray Hill development to the tune of more than $20 million, despite receiving a tax exemption that limited rent increases.  Six tenants at The Copper, a pair of conjoined luxury high-rises at 626 First Avenue, sued the buildings’ management Wednesday, claiming they received renewals up to nearly 20 percent higher than the net effective amount they paid for their initial lease term. Their units, stabilized under 421a, have increases set by the Rent Guidelines Board that were capped at 2.75 percent for one-year leases and 5.25 […]

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