Comments on: The Peter Cooper – Stuyvesant Town Blunder Soon To Be A Bankruptcy?

By: Watching Jerry Fail

Watching Jerry Fail — Thu, 15 Oct 2009 02:01:52 +0000

Irregardless of his philanthropy and civic contributions, Jerry Speyer’s legacy will be his failed, greed-fueled attempt to jack boot thousands of longstanding, middle class, NYC citizens out of their Stuyvesant Town residences. Many of his victims included elderly WWII veterans and/or their wives/widows – the very same people for whom the complex was built.

By: P(CV)unk'd

P(CV)unk'd — Wed, 14 Oct 2009 20:58:41 +0000

You neglected to mention that landlords of rent-stabilized buildings ALWAYS are allowed to increase rents, regardless of whether their costs have gone up or down. And although rent-stabilized tenants have fought the unbridled greed of various landlords in ST/PCV, they have not always prevailed. Management has been so inept and illegal that market-rate tenants have joined the battle. And why not mention the importance of affordable housing in Manhattan and how Bloomberg has eviscerated the middle class? Before MetLife sold the property they had nurtured so carefully, people were willing to wait years to get in.

By: Tom Royce

Tom Royce — Wed, 14 Oct 2009 20:28:04 +0000

Thanks Frances and Lee Ann for the correction. The post has been updated to reflect the changes.

By: The Peter Cooper – Stuyvesant Town Blunder Soon To Be A Bankruptcy? « Business News

Wed, 14 Oct 2009 18:46:27 +0000

[...] The hubris and moxie that pushed through this deal and sucked in pension fundsSource: The Real Estate Bloggers RSS Feed [...]

By: Lee Ann

Lee Ann — Wed, 14 Oct 2009 17:27:46 +0000

PCV/ST is not rent controlled and never was. There is a big difference in rent stabilization and rent control. Tishman is trying to take advantage of luxury decontrol–whose guidelines haven’t changed with inflation–and the lovely major capital improvement loophole.

By: Frances

Frances — Wed, 14 Oct 2009 16:59:56 +0000

The apartments in Stuyvesant Town and Peter Cooper Village are NOT rent controlled. They are rent stabilized.