A former Stuyvesant Town resident tells us that renters and ex-renters at the complex?where a drawn-out rent fight resulted in a $68.7 million settlement late last year?are beginning to find out how much they'll be getting in rebates now that the case has been settled. Our tipster, who lived in the complex for just over three years, will be receiving a rebate of $5,600, minus whatever legal fees are taken out. Tenants who didn't opt out of the settlement and who had leases in effect by January 22, 2003 or between that date and November 30, 2012, are eligible for rebates, the amounts of which are listed on a password-protected website. Those rebates come from three pools, depending on the dates of the tenants' rent overpayment. Anyone else out there receive Stuy Town rebate info? Chime in with the amount in the comments!
The financial awards break down as follows:
The $68.75 million being used under the settlement to pay Past Rent Claims is deposited into three distinct pools of funds. The "MetLife Damages Pool" contains $10,500,000 and will be used to pay Past Rent Claims of all Eligible Class Members who overpaid rent between January 22, 2003 and November 16, 2006, when MetLife sold the complexes.
The "PCV/ST Current Tenants Pool" contains $14,737,250 and will be used to pay Past Rent Claims for current tenants who overpaid rent between November 17, 2006 and December 31, 2011, or who are entitled to Minimum Damages Payments (discussed below).
The "PCV/ST Former Tenants Pool" contains $43,512,750 and will be used to pay Past Rent Claims for former tenants who overpaid rent between November 17, 2006 and December 31, 2011, or who are entitled to Minimum Damages Payments.
If you lived at the complexes both before and after November 16, 2006, you are a "Dual Tenant" and your Past Rent Claim will be paid from both the MetLife Tenants Pool and one of the two PCV/ST Pools.
· Stuy Town coverage [Curbed]