UPDATE: June 4, Attorney Alex Schmidt said a court order had been signed at around 3 p.m. to authorize the payments and checks should be going out next Thursday.
UPDATE May 30: Attorney Alex Schmidt said he will be going to court on Monday, June 2.
By Sabina Mollot
Current and former ST/PCV residents who are members of the “Roberts v. Tishman Speyer” class action should be getting their rent overpayment checks later this month, the lead attorney for tenants, Alex Schmidt said.
Though they were originally supposed to be paid earlier in the year, there was a delay because CWCapital had claimed many of the tenants owed back rent.
The delay was also due to the settlement between CWCapital and the ST-PCV Tenants Association over five MCIs (major capital improvements). As a result of the settlement, along with the monthly rent increases being reduced or eliminated, retroactive portions of those MCIs were also eliminated for most tenants.
“Once that agreement was signed and announced, we had to go back and make sure all the current tenants who were slated to receive non-payment deductions were not being improperly charged for retroactive MCIs, which the TA’s superb settlement precludes,” Schmidt said.
At this time, the process of awarding damages to over 11,000 people who still need to be paid is almost done, Schmidt said. The attorney, who’s with the firm Wolf Haldenstein, said he’ll go to court this week or the following week to get the next round of payments to class members. Those who are believed to owe rent will still get part of their damages. To get any amount that’s in dispute, the tenant or former tenant will have a 45-day period to object.
Out of a $173 million settlement for tenants in apartments that were illegally deregulated by former owners MetLife and Tishman Speyer, close to $69 million will be paid out to tenants. The rest of the money is in the form of rent savings.
“Roberts” tenants and former tenants who were owed money from when Met Life was the owner of Stuyvesant Town/Peter Cooper Village were paid at the end of 2013.
A spokesperson for CWCapital declined to comment.