Lenox Terrace, the preferred housing of NYC's rent-stabilized politicos, is the latest rental complex to grasp at Stuy Town's coattails. A group of tenants has filed a lawsuit against owners the Olnick Organization, with the now familiar claim that the landlord raised rents illegally while receiving tax benefits. What could be in it for the tenants? Somewhere between $400,000 and $6 million, or $2,000 to $30,000 per each of the 200 or 300 individual tenants affected, according to the lawyers who filed the suit. Governor David Paterson would get a piece of the rent rollback pie, but Charlie Rangel, whose 480 apartments in the complex appear to still be rent-regulated, would not. This is only one of the few of an expected flood of post-Stuy Town lawsuits to be filed so far. But the attorneys are the same ones involved in the London Terrace Gardens rent-stabilization case, so any complex with "Terrace" in the name should watch out. You might be next!
· Suit accuses big Harlem landlord of wrongful rent hikes [Crain's]
· Lenox Terrace coverage [Curbed]