Gothamist
A non-profit newsroom, powered by WNYC.
Gothamist
Listen Live
News
Revenues at Stuyvesant Town are Down
By
Jen Chung
Published Jul 23, 2008
Modified Jul 23, 2008
Share
FacebookTwitterRedditEmail
Never miss a story
Email address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .
By
Jen Chung
Published Jul 23, 2008
Modified Jul 23, 2008
Share
FacebookTwitterRedditEmail
We rely on your support to make local news available to all
Make your contribution now and help Gothamist thrive in 2026. Donate today
Gothamist is funded by sponsors and member donations
The NY Times reports analysis of Stuyvesant Town/Peter Cooper Village finances shows revenues for the huge complex dropped last year. And that's in spite of Stuyvesant Town owner Tishman Speyer converting 560 rent-regulated units into market-rate units!
Or maybe it's because of the conversion. When Tishman Speyer paid $5.4 billion for the complex, its plan was to increase profitability by increasing the number of market-rate units. However, there have been legal costs associated with trying to push out rent-regulated tenants (of course). And then there are the reports of hundreds of vacancies in the buildings, due to the soft real estate market, prompting new marketing strategies to attract market-rate tenants.
The Times article then looks at the tensions between rent-regulated tenants and Tishman Speyer; while tenants feel they are being unduly harassed, the management company says it has only been trying to crack down on people abusing the system (those with other homes they reside in, for instance). Lux Living, a blog critical of Stuyvesant Town, suggests that Waterside Plaza has been trying to appeal to the huddled masses escaping Stuy Town--and why not, if NYU students living in Stuy Town really are throwing themselves at pressurized walls! Still, some new tenants are very happy there.
Tagged
landlord-tenant tension
real estate
rent regulation
Stuyvesant Town
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
Read more
Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
MORE news
DSA to Mamdani: Fire NYPD commissioner if ICE doesn't leave NYC
The DSA's NYC chapter accused the NYPD of collaborating with ICE and demanded Mayor Mamdani hold Police Commissioner Jessica Tisch responsible.
By
Elizabeth Kim
,
Brigid Bergin
and
Ben Feuerherd
Published Oct 9, 2026 at 6:31 p.m. ET
Two people killed in Bronx vehicle crash
When officers arrived on the scene in Allerton Friday afternoon, they found three pedestrians who were unconscious with trauma to the head and body, according to the NYPD. Two individuals later died.
By
Kaya Laterman
News
Two people killed in Bronx vehicle crash
When officers arrived on the scene in Allerton Friday afternoon, they found three pedestrians who were unconscious with trauma to the head and body, according to the NYPD. Two individuals later died.
By
Kaya Laterman
NY will opt in Trump’s school choice program, Hochul says
By
Jon Campbell
Residents, lawmakers warned for months of potential for deadly ICE activity in Marble Hill
By
David Brand
Manhattan DA argues judge shouldn't dismiss state charges against Luigi Mangione
By
Samantha Max
Never miss a story
Catch up on the most important headlines with a roundup of essential NYC stories, delivered to your inbox daily.
Sign upEmail address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .