Stuy-Town Tenants Blast Short Notice Rent Hikes

Hundreds of East Side residents are calling out their landlord over a large rent hike they say takes effect before their current leases expire. Nearly 1,300 Stuy-Town and Peter Cooper Village tenants received notices this week announcing the monthly increases, some totaling more than a thousand dollars. The rent increases are the result of a settlement of a lawsuit filed over apartments that were illegally removed from rent stabilization protections.

CW Capital, which manages the property, says it will give tenants an extra 30 days to make adjustments, with the new rates taking effect on July 1.

Local elected officials who joined tenants at a rally this morning say that's still not enough time to come up with a contingency plan and are demanding the company delay the increases further. "It's pretty outrageous. They're billing it as rent increase but effectively it's an eviction notice. You know, being asked to pay $600 more per month in the middle of a current lease is to me is deplorable," said Kevin Burke, a Stuy-Town tenant. "And it shows a deep lack of respect for this community. So we are calling on CW Capital to slow this down and act with some decency," said City Councilman Daniel Garodnick. "Retract the sudden rent increases and do not touch rents until leases expire. Phase in any increases so that people will have a chance to stay here."

Tenants initially saw their rents fall, but in November the new owners were granted permission to raise rates in 4,000 units at Stuy-Town and Peter Cooper Village

http://www.ny1.com/content/top_stories/182116/stuy-town-tenants-blast-short-notice-rent-hikes