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Rent Wars: Stuy Town Appeal Coming

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The big and bitter Stuy Town lawsuit is headed for one final battle, the Times reports. The Appellate Division of State Supreme Court, which ruled that Stuyvesant Town/Peter Cooper Village landlord Tishman Speyer wrongfully deregulated thousands of apartments while receiving tax breaks aimed at preserving rent-regulated housing, will allow TS to appeal the case. If the Court of Appeals upholds the decision, Tishman Speyer will be forced to refund around $200 million in rent overcharges on 4,400 apartments, and a wave of similar tenant lawsuits might follow. [NYT]