63/67 Wall Street Rent Stabilization $5M Class Action Settlement

Certain individuals who signed a lease agreement for units at 63/67 Wall Street in New York City may be eligible to take part in a $5 million class action settlement.

The Class consists of anyone who was a signatory of leases for the covered 63/67 Wall Street apartment units as of Nov. 24, 2013, or who signed leases for the units since Nov. 24, 2013, up to April 14, 2021.

The lead plaintiff filed their class action lawsuit in November 2019, alleging certain tenants of 63/37 Wall Street did not receive rent-stabilized leases and were charged rent that exceeded the legal rent, in violation of the Rent Stabilization Code and Rent Stabilization Laws.

63 Wall Street Owner LLC and 67 Wall Street Owner LLC are the named defendants. The Court has not ruled in favor of either party, and both parties have agreed to the settlement.

The building at 63 Wall Street was converted from office space to 476 apartment units following the terrorist attacks of Sept. 11, 2001, according to Collaborative Construction Management. The building at 67 Wall Street has been converted to 379 luxury homes.

After attorneys’ fees and other expenses are deducted from the fund, eligible Class Members who have a past overcharge amount will receive a payment in the amount of that overcharge or $250, whichever is greater.

If the past overcharge amount for all Class Members is greater than the net settlement amount, the past overcharge amount will be paid out proportionately.

If the total is less than the settlement amount, the remaining balance will be paid back to the defendants.

If a Class Member leased multiple units during the class period, the past overcharge amounts for each lease term will be combined.

Lease terms consisting of two or more co-tenants will have the past overcharge amount divided equally between them. Distributions will be made only to co-tenants filing timely claim forms.

The settlement agreement provides for certain measures related to the maximum rent allowed and unit deregulation. 

Further details on the calculation of each Class Member’s past overcharge amount and on future rent are available in Section III of the settlement notice.  

A hearing in the 63/67 Wall Street settlement is scheduled for Sept. 17, 2021.

The deadline to object to or opt out of the settlement is July 14, 2021.

The deadline to file a claim also is July 14, 2021.

Who’s Eligible

Anyone who was a signatory of leases for the covered 63/67 Wall Street apartment units as of Nov. 24, 2013, or who signed leases for the units since Nov. 24, 2013, up to April 14, 2021.

Potential Award

At least $250.

After attorneys’ fees and other expenses are deducted from the fund, eligible Class Members who have a past overcharge amount will receive a payment in the amount of that overcharge or $250, whichever is greater.

Proof of Purchase

No proof of purchase is required.

Claim Form

NOTE: If you do not qualify for this settlement do NOT file a claim.

Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.

Claim Form Deadline

07/14/2021

Case Name

Tallen Todorovich, et al. v. 63 Wall Street Owners LLC, et al., Index No. 161441/2019 in the New York Supreme Court

Final Hearing

09/17/2021

Settlement Website

63and67WallStreetSettlement.com

Claims Administrator

63/67 Wall Street Class Action
c/o A.B. Data Ltd.
P.O. Box 173129
Milwaukee, WI 53217
info@63and67wallstreetsettlement.com

Class Counsel

Lucas A. Ferrara
Ricardo M. Vera
Roger A. Sachar Jr.
NEWMAN FERRARA LLP

Defense Counsel

Thomas J. Welling Jr.
Gregory A. Cross
VENABLE LLP