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Bloomberg Won't Help Tenants Buy Stuy Town
By
Sabrina Jaszi
Published Feb 23, 2010
Modified Feb 23, 2010
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By
Sabrina Jaszi
Published Feb 23, 2010
Modified Feb 23, 2010
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Mayor Bloomberg says he won't dig into the city's wallet to help tenants of Stuyvesant Town take ownership of the foreclosed complex, saying he'd rather the deal go elsewhere. "That's not what we're here to do. We want to make sure that whomever does take it over has a profitable deal," he said. But the Daily News reports that residents think he's judging them unfairly. According to City Councilman Daniel Garodnick, who lives in Stuy Town, "the mayor should not underestimate what the city can do."
The Manhattan Democrat added that "Whether through financing or by helping the tenants partner with a nonprofit entity, the city can play a critical role." But if history shows us anything, it's that Bloomberg won't play ball with the tenants. The mayor previously refused to help residents in a 2006 bid to buy the property. Instead, sellers of the 110-unit development made a doomed deal with the Speyers, who paid a record price of $5.4 billion for the property, only to default on it earlier this year.
Tagged
development
garodnick
mayor bloomberg
peter cooper village
speyer
stuy town
Stuyvesant Town
tenants
Sabrina Jaszi
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