Thousands Of Lower Manhattan Tenants Could Be Owed Rent: Report

LOWER MANHATTAN, NY — Tenants living at more than 6,000 units in Lower Manhattan could be owed money for rent, according to a new analysis from THE CITY.

A recent legal victory paved the way for thousands of units in Lower Manhattan to be rent-stabilized, since the building's landlords received millions in tax benefits under a 1995 program, THE CITY reported.

Under a tax benefits program called 421-g, developers who converted former offices buildings into apartments with affordable units could get a tax break, according to the news website.

Tenants at one of those buildings, 90 West St., told THE CITY that the landlord began jacking up rents in the double-digit percentages.

Tenants at the West Street building as well as 50 Murray St. waged two separate court battles, that ended with a ruling in June determining landlords who reaped benefits of the 1995 program were required to give tenants rent-stabilized leases.

The court victory, which one landlord has filed yet another motion to have the case reargued, could mean tenants at thousands of apartments are owed money, THE CITY reported.

An analysis by the website at least 39 buildings with 6,088 units were under the 421-g program between 1995 and 2006, according to Department of Finance records the website obtained through the Independent Budget Office.

Click here to see THE CITY's full report and what buildings are impacted by the recent court ruling.