$5B sale may hit affordable housing

Some worry one of the city’s biggest sources of affordable housing may disappear. Most of the 11,200 apartments in Peter Cooper Village and Stuyvesant Town, both of which are now up for sale for around $5 billion, are rent-regulated. But a new owner may want to get rid of as many tenants as possible to convert the complexes to for-sale housing. more [NYT]
Meanwhile, some think Peter Cooper Village and Stuyvesant Town will not sell for anywhere near $5 billion. more [Post]