Stuy Town to open up vacant units to new tenants

New York /
Dec.December 31, 2009 12:26 PM

Stuyvesant Town could see dozens of new tenants in the new year, according to a statement released today from a spokesperson from Tishman Speyer. About 100 vacant apartments at the residential rental complex will be available for rent beginning Jan. 4 and will be assigned to current rent-stabilized tenants as well as those who have sat on the development’s waiting list. These new tenants will have similar contracts to those who already live in rent-stabilized units, according to the written statement. “As is the case with current residents, each new resident will be afforded the rights of automatic lease renewal and succession rights available to rent-stabilized tenants,” the statement read. The move comes after a New York State Court of Appeals ruled in October that Tishman Speyer did not have the right to deregulate rent-stabilized apartments in Stuyvesant Town and Peter Cooper Village. The management company has seen its reserve fund dwindle in recent months and in our August issue, The Real Deal named Tishman’s purchase of the housing development one of the worst deals made since the credit crunch.TRD


Related Articles

arrow_forward_ios
Blackstone CEO Steven Schwartzman and Stuyvesant Town (Credit: Getty Images)
After authorities vowed review of Stuy Town deal, Blackstone changes course on vacancies
After authorities vowed review of Stuy Town deal, Blackstone changes course on vacancies
Tete-à-tete with TRD: How landlords are dealing with New York’s new rent laws
Tete-à-tete with TRD: How landlords are dealing with New York’s new rent laws
Tete-à-tete with TRD: How landlords are dealing with New York’s new rent laws
Real Capital Analytics data showed that New York’s multifamily market had a very slow July. (Credit: iStock)
New NYC rent law “beginning to shut down investment”
New NYC rent law “beginning to shut down investment”
The Jacx at 28-07 Jackson Avenue and Tishman Speyer’s Rob Speyer (The Jacx, Tishman Speyer)
What tenants pay at Tishman Speyer’s The Jacx in LIC
What tenants pay at Tishman Speyer’s The Jacx in LIC
A rendering of The Jacx at 28-07 Jackson Avenue and Tishman Speyer's Rob Speyer (Tishman Speyer, Getty)
Tishman Speyer gets $425M loan for The Jacx in Long Island City
Tishman Speyer gets $425M loan for The Jacx in Long Island City
Landlord groups say the Housing and Vacancy Survey distorts the vacancy rates in New York City to maintain rent stabilization. (iStock)
Empty numbers: Landlords say vacancy survey distorts truth
Empty numbers: Landlords say vacancy survey distorts truth
John Catsimatidis and 670 Pacific Street (Getty, StreetEasy)
Catsimatidis notches win for landlords in 421a suit; tenants vow to appeal
Catsimatidis notches win for landlords in 421a suit; tenants vow to appeal
Tishman Speyer CEO Rob Speyer with ByteDance CEO Zhang Yiming and an aerial of The Springs (Getty, Tishman Speyer)
Tishman Speyer’s Shanghai bonanza: ByteDance buys four buildings
Tishman Speyer’s Shanghai bonanza: ByteDance buys four buildings
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...