Why mainstream press “didn’t get” Stuy Town

TRD New York /
Feb.February 15, 2010 10:41 AM

Seeing the forest for the trees: that was the topic of conversation at the recent NYU Schack Institute of Real Estate reporter roundtable, “Fair Deals? Fair Coverage?” which was moderated by the New York Times’ Charles Bagli, and included The Real Deal’s David Jones, the New York Observer’s Elliot Brown, Crain’s Amanda Fung, and the New York Post’s Tom Topousis. According to Jones, the infamous Starrett City and Stuyvesant Town deals were a reflection of trends in New York City’s financial milieu. But, unfortunately, those trends were at times overlooked by the mainstream media, Jones contended. While these stories were well-covered, both Bagli and Jones said the press overlooked the larger implications that these deals had. “They just didn’t get it,” Jones said. “Back during the middle part of the decade… there was a frenzy of institutional owners basically realizing they could maximize the value of these assets.” (To view the panel in its entirely, please visit NYU-SCPS.)


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
Stay-at-home orders and virtual classes have asked serious questions of the once-booming market for student housing. (Photo: University of North Carolina at Chapel Hill via Getty)

Quiet dorms and distress storms: Student housing sector takes hit

Quiet dorms and distress storms: Student housing sector takes hit
Stuyvesant Town (Getty)

Layoffs at Blackstone’s Stuy Town management firm

Layoffs at Blackstone’s Stuy Town management firm
From left: Tishman Speyer CEO Rob Speyer, Fiorello LaGuardia and Robert Moses. Inset: Hiten Samtani and Charles Bagli (Getty Images, Wikipedia Commons)

Tuna fish sandwiches and billion-dollar deals: Charles Bagli on other people’s money and the next life of New York

Tuna fish sandwiches and billion-dollar deals: Charles Bagli on other people’s money and the next life of New York
Hear from economist Sam Chandan on tonight’s TRD Talks Live

Hear from economist Sam Chandan on tonight’s TRD Talks Live

Hear from economist Sam Chandan on tonight’s TRD Talks Live
Blackstone's Jonathan Gray and an aerial of Stuyvesant Town (Credit: (Photo by Drew Angerer/Getty Images; iStock)

Stuy Town tenants sue Blackstone to stop rent hikes

Stuy Town tenants sue Blackstone to stop rent hikes
Linda Rosenthal and Stuyvesant Town-Peter Cooper Village  (Credit: Brett Carlsen/Getty Images; Orjan F. Ellingvag/Corbis via Getty Images)

Pol seeks to punish landlords with “warehousing fee” for vacancies

Pol seeks to punish landlords with “warehousing fee” for vacancies
TriArch Real Estate Group founder Chris DeAngelis and Pebb Capital principal James Jago

Student housing property near NYU trades for $104M

Student housing property near NYU trades for $104M
arrow_forward_ios

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

Loading...