Roberts v Tishman in C.A. affects which Buildings?
Started by kennewbie
about 16 years ago
Posts: 3
Member since: May 2010
Discussion about
This class action case by tenants of Stuyvesant Town and Peter Cooper Village complex, was back in the New York trial division with MetLife moving to block retro-activity on claims for excess rent paid [which would get them right out of the claim because they sold in 2006 and the action was not started until 2007 and decided last year]. The motion was dismissed by the state trial court. Duh.... [more]
This class action case by tenants of Stuyvesant Town and Peter Cooper Village complex, was back in the New York trial division with MetLife moving to block retro-activity on claims for excess rent paid [which would get them right out of the claim because they sold in 2006 and the action was not started until 2007 and decided last year]. The motion was dismissed by the state trial court. Duh. Anyway, the Court of Appeal decision remains the more important one. "The Court of Appeals held last year that the rent reform statute "carved out an exception to luxury decontrol" for units receiving tax breaks." This was the J-51 tax abatements. http://www.law.com/jsp/nylj/PubArticleNY.jsp?id=1202464292284&Stuyvesant_Town_Decision_Applies_Retroactively_Judge_Says&slreturn=1&hbxlogin=1 Is there any listing on how many units, and in which buildings that conversion will be unwound due to the Court of Appeal decision? Supposedly, there are many. There were general comments, like this one: "The ruling could also lead to rebates for tens of thousands of tenants in buildings around the city." http://www.ny1.com/content/top_stories/123324/stuyvesant-town-tenants-to-get-rent-rebates See also: http://www.crainsnewyork.com/article/20100806/REAL_ESTATE/100809878 Is there any thread that mentions which buildings these are? Might be some good deals on previous investment owned units coming off illegal conversions. [less]