Can You Benefit From N.Y.'s Stuy Town Verdict?


Probably not, unless you live in an apartment with a monthly rent higher than $2,000 in New York City.But, Stuy (pronounced like sty) Town and Peter Cooper Village renters may see a windfall. That still depends on how the courts decide to fix the problem of rent overcharges. Stuy town is the biggest rental complex in New York City.

The courts could decide to roll back rents but not require landlords to refund past overcharges. Based on the ruling in a Manhattan court, the owners of Stuyvesant Town and Peter Cooper Village improperly raised rents and deregulated 4,400 apartments while receiving special tax breaks from the city.