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Tenants Want to Bid on Stuyvesant Town-Peter Cooper Village
By
Jen Chung
Published Sep 5, 2006
Modified Mar 7, 2008
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By
Jen Chung
Published Sep 5, 2006
Modified Mar 7, 2008
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There may be some high-flying developers and investors interested in buying Stuyvesant Town-Peter Cooper Village, but the underdog bidders to capture the public's heart of the sale might just be the tenants of STPCV themselves. Really: The Stuyvesant Town-Peter Cooper Village Tenants Association reports that tenants are interested in forming an investor group to make a bid. A tenants-investor group would try to preserve stability for tenants - both market rate and rent-stabilized. Now, how a group of tenants will get billions ready for a bid is another question, but it'll be interesting to see how the tenants fight the sale of the complex. City Councilman Dan Garodnick, who lives in Stuy Town-Peter Cooper Village, is working with the tenants' association (he even tried to visit all 100 buildings in the complex during his election run last year!).
The STPCVTA has prepared a fact sheet about the sale and how it affects tenants, for instance, "In pursuit of profit, such a buyer might change the layout of the property, remove green space, add stories on top of buildings or construct new buildings altogether." No kidding - the 80 acres that STPCV covers might be the most valuable thing about the deal.
Some questions about the sale and an old post about Stuyvesant Town management trying to kick out tenants over pets.
Tagged
city
City Councilman
election
News: NYC
Peter Cooper
peter cooper village
pets
stuy town
Stuyvesant Town
the underdog
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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