The settlement is one example of how the complex rules governing the rent-stabilization system in New York City can be frustrating for renters struggling to hold landlords accountable.
NEW YORK — Private equity firm Blackstone is paying some New York City renters more than $100,000 each to resolve claims that they had been overcharged for their rent-stabilized apartments, according to court papers and an announcement from a housing watchdog group Tuesday.
The total payout of nearly $15 million, which involves dozens of tenants who will receive thousands of dollars each, is one of the largest in state history, according to the lawyers representing the tenants.
It resolves a 2018 class-action lawsuit that residents of Parker Towers in Queens filed against the former property owner, The Jack Parker Corp., and Blackstone, which purchased the complex that year. The building has more than 1,300 units, and The Jack Parker Corp. had received lucrative tax breaks through a city program to renovate the apartments but keep them rent-stabilized.
“This settlement is more than just a settlement for these families,” said Aaron Carr, fou
