Defaulted Manhattan Complex Rewarding Patient Money: Mortgages

Gary Delgado learned last week from a note slipped under his door that the rent for his two-bedroom apartment at Manhattan’s Stuyvesant Town will jump by $920 to $4,220 a month in July. Unable to move immediately, he says he’ll stick it out for another year.

“We’ll do it, but this takes away from tuition,” said Delgado, 48, who has two sons in college. “I can’t turn on a dime.”