Stuyvesant Town Tenants To Get Rent Rebates
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A legal victory for tenants in some 4,400 Stuyvesant Town apartments could cause some major ramifications for building owners citywide.
A Manhattan judge ruled the Stuyvesant Town tenants are entitled to rolled back rents and retroactive refunds because owners Tishman Speyer and MetLife improperly deregulated their apartments.
Tishman Speyer and MetLife now owe a total of $215 million.
The ruling could also lead to rebates for tens of thousands of tenants in buildings around the city.
The legal battle is expected to continue, as landlords feel that future judges need to define how far back "retroactive" applies for tenants filing claims.
The Court of Appeals ruled last year that landlords receiving tax breaks cannot deregulate apartments where rent has risen above $2,000.