Council Speaker Christine Quinn and other lawmakers on Sunday called on the landlord to reach an immediate agreement with the tenants.
Quinn said tenants have been exposed to mold and other hazardous conditions.
Negotiations on an agreement between the tenants and the landlord broke down last month.
The tenants filed a lawsuit against the owner in December 2011 demanding that the unsafe conditions be repaired.
The tenants say they're going back to bankruptcy court on Monday.
The owner, Chetrit Group, could not be reached for comment.
The landmark building has drawn many artists and celebrities over the years, including Bob Dylan and Patti Smith.
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