New York City has no Los-Angeles-style buyout disclosure program, so cash-for-keys offers are legal in principle. They become illegal when used to harass or pressure rent-regulated tenants, exposing the landlord to NYC Tenant Protection Act penalties.
Unlike Los Angeles or San Francisco, NYC has not enacted a tenant-buyout disclosure or filing scheme. A landlord may offer cash for keys, and a tenant may sign such a deal voluntarily. However, NYC Admin Code §27-2004 and §27-2005 (Tenant Protection Act) make it unlawful to engage in repeated buyout solicitations after the tenant says no, to threaten eviction or service cutoffs, or to make false statements about a tenant's rights. For rent-stabilized units, DHCR can find harassment based on aggressive buyout pressure and impose treble damages. Best practice: written offer, single ask, attorney review, and respect the tenant's right to refuse without retaliation.
Repeated unwanted buyout offers, threats, or misstatements of rights count as harassment under §27-2005, triggering civil penalties of $2,000 to $10,000 per offense and treble damages on rent-stabilized harassment findings.
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