The recent ruling in favor of tenants at Stuyvesant Town and Peter Cooper Village initially put the city’s landlords on the defensive, but now property owners are asking if the city might owe them money because of the decision. Frank Ricci, director of governmental affairs at the landlord trade group Rent Stabilization Association, said he has fielded calls from “dozens” of landlords asking if the city might owe them for overpayment in taxes. And in recent weeks the law firm Belkin Burden Wenig & Goldman raised more questions in a bulletin, including whether the city must pay landlords for lost tax abatements. Adding to the potential chaos, Stephen Meister, a partner who specializes in real estate law at the firm Meister Seelig & Fein, said he had spoken with building owners who might want to leave the city-run J-51 tax abatement program altogether. [more]

From the May issue: Darcy Stacom is the vice chairman in the
Investment
Properties Institutional Group at CB Richard Ellis. She has racked up
$39.2 billion in
advisory and sales transactions including representing MetLife in the
$5.4 billion sale of Stuyvesant Town and Peter Cooper Village in 2006.
Stacom talked to The Real Deal about
living in the same rental apartment building for more than two decades,
starting her career in real estate at age 14 at competing firm Cushman
& Wakefield, where her father Matthew Stacom is a veteran broker
and sister Tara is a top broker, and never dressing the corporate part. [more]