NEW YORK CITY-The New York State Appeals Court affirmed a lower court ruling that Metropolitan Insurance and Annuity Co. and Metropolitan Tower Life Insurance Co., the former owners of Stuyvesant Town and Peter Cooper Village, must pay damages for improperly raising rents on tenants. The decision confirms Judge Richard B. Lowe III’s Court of Appeals’ landmark ruling in Roberts v. Tishman Speyer, which barred rent deregulation for an apartment in a building receiving J-51 benefits.

Alexander H. Schmidt, of Wolf Haldenstein Adler Freeman & Herz LLP, who represented the plaintiffs in the case, tells that the decision “was clearly a victory” for the plaintiffs because it ensures that they will be entitled to recovered damages for rent overcharges. “Justice continues to be done in this case,” he says.

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