DAVID HERSHEY-WEBB PRESENTS THE TENANT PERSPECTIVE ON RENT REGULATION AT 2011 MASSEY KNAKAL MULTIFAMILY SUMMIT

November 16, 2011

Himmelstein, McConnell, Gribben, Donoghue & Joseph LLP partner David Hershey-Webb appeared on a panel "Albany 2011: The Politics of Rent Regulation" at the 2011 Massey Knakal Multifamily Summit on November 16, 2011. Hershey-Webb, the only tenant attorney on a panel which included landlord attorney Sherwin Belkin of Belkin, Burden, Wenig & Goldman and Frank Ricci, Government Affairs Director of the Rent Stabilization Association, defended rent regulation before an audience of real estate owner and developers. Hershey-Webb described rent regulation as an essential part trying to maintain affordable housing in New York City and a program which contributes to stable and diverse communities. Hershey-Webb decried the loss of more than 100,000 regulated apartments since the advent of deregulation in 1993. One landlord representative, Daniel Margulies, Executive Director of Associated Builders and Owners of Greater New York, talked about the need to elect more Republicans to the State Legislature to represent the interests of the real estate industry and weaken rent regulation. Mr. Belkin called the Roberts decision, which requires that landlords receiving J-51 tax abatements keep apartments as rent regulated, "outrageous." Hershey-Webb said it was a great decision which helped, in a small way, stem the tide of deregulation.