07/18/2009 05:12 am ET Updated May 25, 2011

New York Legislature Switch May Doom Pro-Tenant Rent Law Changes

State Senator Pedro Espada, Jr. handed a significant victory to New York Republicans when he abandoned the Democratic caucus last Monday and threw the Senate back into Republican control.

Mr. Espada's surprise defection also delivered an all-but-unnoticed victory to another powerful group: New York's real estate industry.

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