"However, representatives of 56 Clover Realty LLC, who bought the three buildings in April, have pushed back strongly against the accusations, stating that the three buildings were never rent-stabilized and have always contained condominiums. They further argued that tenants are not protected by Good Cause Eviction laws because the law does not apply to condos...
Deeds provided by 56 Clover Realty appear to indicate that all 24 units in the three buildings are designated as condos.
...Dávila said residents can’t afford a 50% rent hike and can’t stomach the prospect of being forced to leave their long-term homes.
She conceded that the buildings may not have been officially rent-stabilized but said the previous landlord had been treating it as such by offering tenants one- or two-year leases."
If even she concedes the point, then their case is weak (landlords are free to charge below what the market will bear, but that doesn't bind the new owners when the leases are up for renewal). Judgment for 56 Clover Realty. Next case!