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The Next Stuy Town: Wall Street's Luxury Rentals?

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Back in December, a housing court judge sided with a tenant in FiDi's 37 Wall Street who argued that his apartment should be rent stabilized. Another 8,600 apartments in the area could also end up with rental golden tickets, the Times reports, because their owners received 421-g tax breaks. So how did a decision like this get handed down? Blame Stuy Town! The judge originally dismissed the plaintiff, who paid $4,920/month for his 37 Wall 2BR. But then the Stuy Town ruling happened and the judge changed his mind. Landlords argue the two cases are different because Stuy Town and Peter Cooper Village were built for middle-income residents, while 37 Wall Street and its neighbors were meant for young, monied financiers who already pay rents well over the $2,000/month deregulation threshold. Rightful extension of the city's rent regulation laws or rich people whining? We'll be keeping a close eye on how this one plays out.
· Luxury Wall Street Rentals May Win Rent Protection [NYT]
· Echoing Stuy Town, FiDi Apartments Could Get Rent Regulation [Curbed]

37 Wall Street

37 Wall St., New York, NY 10005