NYC Stuyvesant Town Tenants Face Rent Increases of Up to 30%

The landlords of Stuyvesant Town-Peter Cooper Village, Manhattan’s largest apartment complex, are seeking rent increases of as much as 30 percent, asking tenants to start paying the higher rate in the middle of their leases or vacate their units.

CWCapital Asset Management LLC yesterday told 1,300 tenants that under the terms of a legal agreement, monthly rents would rise by as much as $2,200, according to residents and New York City Councilman Daniel Garodnick, who gathered to protest outside the leasing office this morning. Letters placed under apartment doors said tenants would have to begin paying the new rates on June 1 or agree to vacate by mid-July. Most of the proposed increases were $700 to $900, Garodnick said.