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New York

Stuy Town couple challenges blockbuster settlement

Stuyvesant Town
Stuyvesant Town

Two residents of Stuyvesant Town-Peter Cooper Village are asking a judge to dismiss the planned $68.7 million settlement between tenants and ownership over allegations of rent overcharges.

“The proposed settlement gives the defendants a victory on almost every contestable issue,” say couple Joshua Katz and Leigh Singer in Their Court papers filed yesterday.

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The two have lived at Stuy Town since 2005 and say they are unhappy with the $18 million to $24 million set aside for legal fees, while some residents will receive just $150 from the settlement.

The tenants filed suit in 2007 seeking for $215 million in overcharged rent. They alleged that then-owners MetLife and Tishman Speyer improperly deregulated rent-stabilized units while taking J-51 tax benefits.

Stuy Town owner MetLife and manager CWCapital Asset Manager declined to offer the Post a comment. [NYP] —Zachary Kussin

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CWCapitalMetlifeStuyvesant Town