Court upholds rent control on NYC units

October 22, 2009 2:50:20 PM PDT
New York's top court is upholding rent controls on thousands of middle-class Manhattan apartments. The Court of Appeals, in a 4-2 ruling Thursday, upheld the claim by tenants of Stuyvesant Town and Peter Cooper Village on the East River that Tishman Speyer Properties illegally deregulated rents on their apartments.

The tenants claim rents on about 3,000 apartments in the middle-class enclave were hiked significantly to market rates and they want to recoup about $200 million in alleged rent overcharges.

The court majority says landlords could not deregulate those apartments while receiving a city tax benefit designed to encourage renovations.

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