NYC to Pay $60M to Settle Landlord Seizure Lawsuit

New York City has agreed to a $60 million settlement in a 2019 lawsuit alleging that its program to seize buildings from negligent landlords deprived homeowners of equity without just compensation. The settlement resolves claims of unconstitutional property takings, marking a notable reversal for the city's enforcement approach. The payout's distribution and any policy changes remain to be detailed.