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Bronx's Baby Stuy Town Gets Regulated Rents Back

Standing on the shoulders of Stuy Town, tenants living in 1600 Sedgwick Avenue in the Bronx's Morris Heights neighborhood have won a small victory in their lawsuit against their landlord, Riverview Redevelopment Company. The State Supreme Court has issued a preliminary ruling that Riverview must return the building to regulated rents because the company raised rents while receiving a J-51 tax abatement. According to the press release, the landlord had hiked rents from under $800 for a two-bedroom to nearly $1,300 and had begun eviction proceedings against six tenants. If the preliminary ruling holds, it looks like the 1600 Sedgwick golden ticket may be a little more golden than Stuy Town's.
· Rent Wars: Bronx's Baby Stuy Town [Curbed]