A big congratulations goes out to the cheated residents of Stuyvesant Town and Peter Cooper Village! A tremendous court decision had just been decided in favor of the tenants versus Tishman-Speyer, the mogul property owner. Two hundred million dollars in unfair de-regulations of their apartments needs to be paid back to the tenants who were unfairly forced to pay the market rate on these apartments. And this decision is HUGE, because these adjacent complexes house 20,000 people! Visions of sugar plums dance in my head! Perhaps finally This turned leaf will create a domino effect where the law will swoop in and put a stop to the tyranny of price gouging with no fair president.
The tenants have achieved the victory in the lawsuit with the power in numbers, money, and people who know people (lawyer people). And I imagine that still it will be quite impossible to fix such slum-lord criminal activities in the rest of the city. I think a task force should be created stop this true evil that never has been extinguished in the history of this dirty city. But 3,000 apartments may soon be priced at a more reasonable price once again, and we should rejoice!
Read the story all over the web-
Stuy-Town Lux-Liv
New York Times
Curbed
Blog Blog Blah
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