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Blackstone will pay rent-stabilized tenants $1M. It won’t stop the lawsuit.

Blackstone Group will pay about $1.1 million in refunds to rent-stabilized tenants at Parker Towers, though the payout doesn’t signal an end to a lawsuit over illegal rent increases at the Queens complex. The lawsuit was initially launched in March 2018 against the Jack Parker Corporation, which accused the real estate company of illegally deregulating apartments in the 1,327-unit Forest Hills rental complex despite receiving tax breaks under the J-51 program, which requires landlords to […]

source https://therealdeal.com/2019/04/19/blackstone-will-pay-rent-stabilized-tenants-1m-it-wont-stop-the-lawsuit/

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