How Does Today’s Court Decision Affect Class Action Lawsuits From The Stuyvesant Town Tenants?
A tentative legal agreement has been reached that reduces rent for thousands of tenants at a massive middle-class Manhattan complex for the next six months. The agreement was reached today in state Supreme Court, after the New York State Court of Appeals ruled in favor of the tenants. The tenants successfully argued that the City’s J-51 property tax program precluded removing units from rent regulation. Rents will be reduced based on each tenant’s lease starting in January. The agreement is in place until a formal agreement can be reached following a study on exactly what rents are across the complex. It affects 4,400 out of approximately 11,200 apartments, or about 39%. The agreement, in the form of an order issued by State Supreme Court Justice Richard Lowe …was approved this morning, a spokesperson for the Stuy Town owners said in an e-mail. It would also convert the lawsuit filed by a limited number of parties to a class action lawsuit, broadly covering Stuy Town. The East Side com
Related Questions
- Does a foreclosure action in a court of equity substantially affect a lender’s right to enforce loan obligations against a borrower?
- What is the current state of the class action lawsuits against the vaccine manufacturers for thimerosal in their vaccine products?
- How Does Today’s Court Decision Affect Class Action Lawsuits From The Stuyvesant Town Tenants?
