Stuyvesant Town Judge Holds MetLife On Retroactive Hook For Wrongly Deregulated Rent
August 8, 2010 by Neil · Leave a Comment
New York State’s highest court sounded the financial death knell against Tishman Speyer last year in its ownership of Stuyvesant Town / Peter Cooper Village. The Court of Appeals had ruled that multifamily owners whose buildings … Read More
Why did California Pension Fund Invest — And Lose — $500 Million in Stuyvesant Town?
July 27, 2010 by Neil · Leave a Comment
CalPERS provides retirement benefits for 1.6 million members. As of today, it manages $208.4 billion in assets. Somehow, it managed to invest $500 million with Stuyvesant Town / Peter Cooper Village. It might as well ave given that … Read More
Who’s Praying For New York City Apartment Building Walls?
July 21, 2010 by Neil · 2 Comments
Thousands of New York multifamily tenants are being told that the walls that have been put up over the years without approval from the Department of Buildings must come down. New renters are being informed that if they wish to divide a … Read More
Stuyvesant Town: One, Two, or Many Pieces?
June 23, 2010 by Neil · Leave a Comment
Stuyvesant Town / Peter Cooper Village, Manhattan’s largest apartment complex, can be foreclosed on and sold at auction, according to the federal court handling the matter. The 80-acre property, home to more than 11,000 housing units, may be sold in … Read More
Top 10 Things New York Commercial Real Estate Sales Brokers Will Not Tell You
June 22, 2010 by Neil · Leave a Comment
People have an insatiable need for inside information, whether it’s gossip, Truth, or an edge in conducting business. Commercial real estate brokers are a valuable tool. They unearth properties buyers would not have otherwise known about. But like any tool, it can … Read More
New York Multifamily Rent Regulation: In the Shadow of Stuyvesant Town & Andrew Cuomo
May 31, 2010 by Neil · 2 Comments
“The Lord giveth, and the Lord taketh away.” -Job 1:21 Governor David Paterson now tries to giveth and take away from New York multifamily owners. Currently, rent-regulated apartment units in New York City can be removed from regulatory clutches once the … Read More
Which Major New York Multifamily Operator Faces A Special Servicer 3,000 Miles Away?
May 26, 2010 by Neil · Leave a Comment
San Francisco‘s Parkmerced is a 116-acre complex with 1,683 rental units contained in 11 residential towers. Blocks of two-story garden townhouses account for an additional 1,538 apartments, for a total of 3,221 units. (By contrast, that is about 29% of the 11,227 … Read More
The King Solomon Approach: Divide Stuyvesant Town In Two?
April 27, 2010 by Neil · 1 Comment
Stuyvesant Town / Peter Cooper Village, America’s most expensive apartment complex, consists of two separate tax lots. Bank of America and special loan servicer CWCapital, acting on behalf of senior creditors, want to recoup as much of their defaulted loan … Read More
