No one expects to find a cheap apartment in New York City. It's a well-known fact that finding a place to live in the city can be expensive. Rent Jungle, a website that specializes in apartment information, tracks common rents in the area. According to their findings, the average rent within 10 miles of New York City proper is $3,208 as of October 2016.
Class Action law suits allow claims to be brought on behalf of many people who have been adversely affected by the actions of the defendant. Often times the individual claims are small but in the aggregate can be huge. For example, a credit card company that charged a fraction of a percent more than allowed by law may owe one million customers $10 each. Not enough for any individual to sue but as a class of one million, another matter altogether.
In order for an apartment to be subject to rent stabilization, along with a number of other criteria, it must be located in a building that contains six or more apartments.