Owners forced to sell off their homes for almost nothing after NYC court rules billionaire landlord can increase ground rent by 450%

by

 
A rare spot of affordability on Manhattan’s ultra-luxury Billionaires’ Row is officially going the way of the dinosaurs.

Homeowners at Carnegie House, at 100 W. 57th St., are staring at a nightmare financial scenario. The issue: a breathtaking 450% ground-rent increase they spent the last year fighting that was upheld Monday by a New York County Supreme Court judge.

Now, with the massive price hike about to happen, co-op residents say their monthly costs will reach stratospheric levels — and others are looking to get out completely, with sale listings in the building asking shockingly cheap prices.

https://nypost.com/2026/01/07/real-estate/nyc-court-upholds-carnegie-houses-ground-rent-increase/?utm_social_post_id=645355618&utm_social_handle_id=17469289

Uh-oh! It looks like you're using an ad blocker.

Our website relies on ads and the generous support of readers like you to keep delivering free, high-quality content. Right now, we are facing serious funding challenges and we need your help more than ever. Disable your ad blocker and this message will vanish. You can also sign up for a membership to enjoy an ad-free experience while supporting our work: https://citizenwatchreport.com/plans/subscriptions/ Your support helps us stay independent, continue our work, and keep content free for everyone. We truly appreciate your understanding and thank you for standing with us.