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Tenants who rented an apartment at 595 Baltic St. in Brooklyn, New York, at any time from Feb. 27, 2016, to Sept. 17, 2025, may be eligible to submit a claim for a cash payment from a class action settlement.
595 Baltic Asset LLC agreed to pay $740,000 to settle a class action lawsuit for alleged violations of New York rent stabilization laws. The lawsuit claimed the company overcharged tenants on rent because the landlord did not properly calculate legal rents and failed to account for rent concessions, which resulted in higher rent charges and denial of rent-stabilization benefits.
Who can file a claim for a settlement payout?
Class members are individuals or entities who signed a lease, or co-tenants listed on a lease, for a unit at 595 Baltic St. between Feb. 27, 2016, and Sept. 17, 2025.
How much is the class action payment?
Pro rata cash payment: Each class member who submits a valid claim will receive a cash payment of $250 or more calculated based on their past overcharge amount. The settlement administrator will determine the final payment amount using individual claimant calculations and the total number of valid claims filed. All approved claimants will receive a minimum payment of $250.
The settlement administrator will calculate past overcharge amounts as follows:
- The actual rent paid each month, beginning Feb. 27, 2016, minus the unit's average rent after concessions plus 9% simple interest per year, calculated month by month, up to Nov. 20, 2025
- Minus any unpaid rent or amounts owed to the landlord (nonpayment deductions)
If the claimant had co-tenants on the lease, the settlement administrator will divide the past overcharge amount and any nonpayment deductions equally among those who submit a valid claim form.
How to claim a class action rebate
To claim a settlement payment, eligible class members must complete and mail a claim form to the settlement administrator. They can mail the claim form included with the settlement notice they received or download the PDF claim form to print, complete and mail to the settlement administrator.
Settlement administrator's mailing address: Newman Ferrara LLP, Attn: 595 Baltic Settlement Claims, 1140 Sixth Ave., 9th Floor, New York, NY 10036
Claimants must postmark the claim form by the Feb. 13, 2026, claim deadline.
Tenants and co-tenants can submit a joint claim together, but it is not required.
Required claim information
Claimants must provide:
- The month and year their lease(s) started and ended
- The address(es) of their leased unit(s)
- Names of any co-tenants who signed the lease
Payout options
The settlement administrator will mail checks to the address claimants provide on the claim form.
$740,000 settlement fund breakdown
The settlement fund of $740,000 will include:
- Notice and administration costs: To be determined
- Attorneys' fees: Up to $246,642
- Class representative awards: $12,500 each
- Payments to approved claimants: Remaining settlement funds
Important dates
- Deadline to file a claim: Feb. 13, 2026
- Deadline to opt out: Feb. 13, 2026
- Settlement hearing: Feb. 25, 2026
When is the 595 Baltic St. settlement payout date?
The settlement administrator will issue payments to eligible class members after the defendant fully funds the settlement and it receives final court approval. This may take up to 31 months from the final approval date or until the building sells, whichever comes first.
Why is there a class action settlement?
The class action lawsuit alleged 595 Baltic Asset LLC improperly calculated legal rents by not factoring in rent concessions, resulting in overcharges and denial of rent-stabilization benefits. The plaintiffs claimed the landlord violated New York rent stabilization laws and the 421-a tax benefit program requirements.
The defendant denies the allegations but agreed to the settlement to avoid the expense and uncertainty of continued litigation.
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