CORRECTION: Carnegie House Successfully Fends Off $10M+ Rent Bill From Ultra-Wealthy Landowners

NEW YORK, NY (09/11/2025) (readMedia)-- Yesterday, Justice Nicholas Moyne of the Supreme Court, NY County granted Carnegie House temporary protection against a staggering 450% rent increase pushed by real estate moguls Rubin Schron, David Werner, and Michael Dell as a result of a tainted arbitration award. The landowners gave Carnegie House residents just 20 days to come up with more than $10 million in ground rent – the result of a deeply flawed arbitration process plagued with improprieties that produced a 450% rent hike that would displace the entire building and drive over 300 families from their homes. Carnegie House is challenging the improper arbitration award in court, but Carnegie House's landowners are pressing forward with demands for five months' worth of the increased rent before the Court can rule - an act of clear retaliation against the middle-class New Yorkers fighting to remain in their homes.

Richard Hirsch, president of the Carnegie House Board of Directors, issued the following statement:

"This week's decision is a critical victory for over 300 families living in Carnegie House, who have been pushed to the brink by Michael Dell and our other ultra-wealthy landowners and a tainted arbitration award. While this ruling offers a glimmer of hope, it doesn't change the fact that a 450% rent hike still looms, threatening our homes and livelihoods. These billionaire landowners are doing everything they can to force middle-class New Yorkers out of their homes, and we are grateful that the Court granted us the opportunity to fight back. Carnegie House may be the first to experience these hardball tactics – but we definitely won't be the last."