The hearing aimed at finalizing the terms of the “Roberts v. Tishman Speyer” settlement agreement will take place on April 9 at 10 a.m. at 60 Centre Street, in Courtroom 408, Alex Schmidt, the tenants’ attorney said on Thursday.
If approved, those terms will include compensation for current and former residents of ST/PCV who’d paid market rent for $68.75 million. With rent savings already received as part of the deal, the total recovery would be $146.85 million. Average payouts for the 21,250 class action members are said to be $3,200. However, residents’ rents may also go up as a result of the settlement.
It was that factor that motivated a Stuy Town couple to try to appeal the settlement in February, but they withdrew their application a week after it was filed, Schmidt said.
At a January meeting on “Roberts” hosted by the ST-PCV Tenants Association, which was not a party to the lawsuit, roughly half of the crowd of 200 people said they were unhappy with their figures. However, tenants’ attorneys said it was the largest tenant settlement in history.