About those Stuy Town rent refunds: they might be?a little bit late. CW Capital, the special loan servicing firm responsible for giving Stuy Town tenants back the money they received in the legal settlement, now says it won't be making the $173 million payment that was scheduled for October. In fact, they haven't said when Stuy Towners will get their money back, Crain's reports. About 27,500 past and present tenants of the complex are owed anywhere from $150 to close to $100,000 for rent overcharges between 2007 and 2009.
The situation is particularly galling for tenants because many were threatened with mid-lease rent hikes earlier this year. Some tenants have been able to get out of the increases by proving they were promised they wouldn't get mid-lease hikes, but they are still likely to face increases down the line.
· $173M Stuy Town settlement put on hold [Crain's]
· Stuy Town coverage [Curbed]