Co-op shareholders at Carnegie House were dealt a blow by the New York County Supreme Court, which ruled in favor of the parcel’s landowners in a dispute over the ground lease. The court upheld a rent hike for the property’s ground lease, the Wall Street Journal reported, affecting the payments of hundreds of shareholders that may no longer be able to keep up with payments. The rent increase, enacted by David Werner and Rubin Schron, is expected to bring the annual ground rent from $4.36 million to approximately $24 million. “In the middle of a housing crisis, our billionaire landowners […]

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