Landlord of NYC complex seeking midlease rent hikes

The landlord of Manhattan’s largest apartment complex is proposing to hike the monthly rents of many residents by as much as 30 percent. About 4,300 of Stuyvesant Town-Peter Cooper Village’s 11,000 units are eligible for midlease rent hikes, according to a settlement that set a formula for what the landlord can charge, Businessweek reported. Residents who don’t agree to pay the revised rents have been told that they must vacate in the near future. Source: Businessweek