Statement of Council Member Garodnick re Roberts v. Tishman Speyer Decision
“The court’s decision today was as clear as it was correct — Tishman Speyer cannot take $24.5 million in tax breaks while they push rent stabilized tenants out the door.
“This is a landmark victory for thousands of tenants at Stuyvesant Town and Peter Cooper Village who have been paying exorbitant market rate rents on units that should never have left rent protection. Tishman Speyer needs to do something unheard of in this town: re-regulate apartments that have been lost as affordable housing. Tenants who have been wronged by their landlords’ double-dipping are owed rent overcharges and significant damages, and they should collect.
“It is also a victory for the City, as it means keeping thousands of units of affordable housing, which will remain regulated through 2017 — or as long as Tishman Speyer is receiving J-51 tax breaks.
“Stuyvesant Town is a community that set historic principles for affordable housing, and the property owners in recent years have been turning their backs on those principles. They did it through every legal ambiguity and flimsy argument, and through an aggressive pursuit of tenants. Today, tenants of Stuyvesant Town get a break.”