Stuyvesant Town's 20% Vacancy Rate

| 4 Comments
Stuyvesant Town sees a 20% vacancy rate under Tishman Speyer's management.A Lux Living reader commenting on his lease renewal describes a conversation he had with management in which he used inside information to obtain a fair rent increase when it came time to renew his lease.

"When I called TS to try and negotiate a rent decrease, the representative said that the increase was "fair". This was after I gave her a line about how rents were coming down across the city. I even told her that I had a friend from college who worked in the management office (which was true) who said that Stuyvesant Town had a 20% vacancy. She got pissy when I made that remark and wanted to know his name. I kept my source confidential and we ultimately accepted the new rate, which amounted to an additional $62.5 per month between the two of us."

4 Comments

I was wondering about the current market rate for the apts at stuy town... i ahve been looking around at apts in the city.. and while stuytown apts tend to be bigger.. the walls are horribly thin.. and you get almost nothing with your "market rate" rent.

except perhaps 24 hour security that does nothing..

other apts i have been looking at lately are all in the $2400-$2900 range..

elevator with a doorman.

i think the bubble of stuytown is gonna burst

though... the snow this week was quite pretty... i even saw kids sledding...

it was one of the nicest things i've seen in a while.. since the penis with chicken feet

Additional $62.5 per month is still a good deal isn't it?

any icrease in todays market is a BAD deal.your rent should only go down.

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