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An appellate court ruling has temporarily relieved 324 residents of Carnegie House from a proposed $24 million ground rent increase. The decision also impacts the building's commercial space, which is leased by Georgetown Company. The ruling was based on misconduct by an arbitrator, and while the co-op board president called it a victory, he cautioned that it is only a temporary measure.
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An appellate court ruling has temporarily relieved 324 residents of Carnegie House from a proposed $24 million ground rent increase. The decision also impacts the building's commercial space, which is leased by Georgetown Company. The ruling was based on misconduct by an arbitrator, and while the co-op board president called it a victory, he cautioned that it is only a temporary measure.
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Appellate Court Ruling Provides Temporary Relief for Carnegie House Tenants