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First city-wide rent reduction in the history of New York State, ordered by the Rent Guidelines Board of Kingston, New York, is upheld by Appellate Court
New York State’s Emergency Tenant Protection Act of 1974 permits the regulation of residential rents (“rent stabilization”) on the declaration of a housing emergency in New York City when the vacancy rate falls below 5%, or by similar declarations in municipalities in the suburban New York City counties of Nassau, Westchester and Rockland.
