In the Matter of Trump-Equitable Fifth Avenue Company v. Anthony B. Gliedman

Summary

The New York Court of Appeals held that the Department of Housing Preservation and Development's Regulation No. 4, which required a property to be occupied by a functionally obsolete building to qualify as "under‑utilized" for a 421‑a tax exemption, is invalid because it conflicts with the plain language of the statute. The Court reversed the Appellate Division, vacated the commissioner’s denial, and remanded for reconsideration under the proper statutory standard.