Landlord of NYC complex seeking midlease rent hikes

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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