Stuy Town Tenants Score in Battle with Owner
By: David Jones
March 5th, 2009
Tishman Speyer, which faces financial challenges due to the acquisition of the complex, says it will appeal.
“We remain firmly convinced that Justice Lowe’s decision to dismiss [in 2007] was the correct one,” a spokesman for Tishman Speyer said in a statement. “We intend to continue to pursue all potential appeals and defenses.”
Jeffrey Metz, who represented one of the defendants in the case, said if the tenants prevail, the case could have major implications for landlords across the city.
“If the tenants go back to court and get summary judgment, all the units that [were] deregulated, will have to be re-regulated,” he said. “In a small building, where [an owner] is basically struggling to get by, having one or two deregulated units is the difference between life and death.”