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Tenants Win Major Court Victory? Not on Catharine Young’s Watch!

Wednesday, May 4th, 2011

In 2009, the New York Court of Appeals ruled that the owners of Stuyvesant Town/Peter Cooper Village, a sprawling middle-class apartment complex in lower Manhattan, illegally deregulated around 4,400 apartments while at the same time receiving J-51 tax breaks. In many cases, the rents more than tripled.

In today’s meeting of the Senate Committee on Housing, Construction and Community Development, Senator Catharine Young, in an effort to become the best friend of every New York City landlord, introduced¬†S4117A, a bill that would undo the tenants’ victory in the Roberts v. Tishman Speyer Properties case by allowing landlords to return J-51 tax breaks to the government. By doing so, the billionaire landlords would get to keep all of the rent overcharges that they received from illegally destabilized middle-class tenants, and to keep those tenants at market rent forever.