Tishman Speyer, affordable housing's nasty nemesis, got slapped with a $10 million class-action lawsuit brought on by the ST/PCV Tenant's Association along with four other tenants. The lawsuit claims that the landlord initiated legal proceedings against these and other tenants "without probable cause and in a malicious, willful, reckless and wanton manner."When Tishman Speyer purchased the property in 2006 they sent out a cozy letter promising to work with the community only to promptly destroy it and replace it with college dorms. Tishman Speyer's mission was to destabilize as many apartments as they could with the help of three separate law firms. Unfortunately they cast their dragnet too wide and forced legitimate,stabilized tenants from their homes.
This is the second lawsuit pending for Tish-Spey. On March 5, an appeals court ruled that the landlord of Stuyvesant Town and Peter Cooper Village had raised rents and deregulated apartments after receiving special tax breaks. The decision could cost the landlord, Tishman Speyer, and the previous owner, Metropolitan Life, more than $200 million in restitution.
I read somewhere in that New York magazine article that on one occasion Rob Speyer met with Controller, Bill Thompson, to raise $100 million from a City employee pension fund. Where does he get off using City employees' pension money? Is Bloomberg giving the shop away to his pals?
The answer to your first question is that as City Comptroller, Thompson was/is in charge of managing the City Employees Pension Fund. Back in 2003, investing that $100 million in in premium NYC office space via Tishman Speyer/Travelers NYC Real Estate Venture probably looked like a pretty safe bet (unless you were Nouriel Roubini or Dean Baker).
At the time of the investment, the other trustees of the account were: Martha Stark, Chair, New York City Commissioner of Finance; Betsy Gotbaum, Public Advocate of The City of New York; C. Virginia Fields, Borough President of Manhattan; Marty Markowitz, Borough President of Brooklyn; Adolfo Carrion, Borough President of the Bronx; Helen Marshall, Borough President of Queens; James Molinaro, Borough President of Staten Island; Carl Haynes, President, Local 237, International Brotherhood of Teamsters; Lillian Roberts, Executive Director, District Council 37; and, Roger Touissant, President, Transport Workers Union Local 100.
Here are some interesting comments regarding the $100 million investment:
The stated goal of the investment was to:
The answer to your second question is probably yes. The Speyers likely scratched Bloomberg's back and he returned the favor. Also keep in mind that the $100 million investment appears to dovetail nicely with the mayor's massive rezoning efforts that are ripping neighborhoods apart where a lot of these city employees live, in an effort to make way for condos and office towers that big developers will build. And all of the above mentioned trustees helped.
Thanks, RR. That's very interesting. I must say that the Trustees are a shady bunch of characters! I wouldn't trust any of them!
Jerry and Rob: Two unethical mongrels descended from families of unethical mongrels. The name Tishman has been around since Julius Tishman, one of the most notorious slumlords in the history of the City of New York. The evil is in the blood.
I'm awake at 2:30 am because of a bunch of skanktards whooping away under my window and all I can think of is the fact that Rob Speyer is as stupid as he is ugly - and God knows he is ugly! This genius thought he could drive older tenants out and get in young, affluent market rate tenants who would be stupid enough to pay through the nose for what is basically a no frills housing project (not on par with the City housing projects, but definitely no frills). So this brainless son of a bitch proceeds to fill the place with skanking, partying, perpetually high students who make everybody's life a misery. This strategy doesn't have the effect of driving the older tenants out - just drives us nuts and angry enough to declare war - but is very effective in keeping the market rate tenants out by driving them out and putting out the word loudly and clearly enough that Stuyvesant Town is a must to avoid. Congratulations, Rob. What a brainiac. Take some Beano and try not to fart to hard or you'll blow what little bit of substandard brain you ever had right out of your asshole where it has always resided.
According to his bio on the TS website, idiot son’s dad bought him a seat on the NYC Police Foundation’s board of trustees.
For decades a significant percentage of ST/PCV residents were (and still are) civil servants. It doesn’t take a leap of faith to conclude the Speyers’ draconian battle plan to eradicate the complex’s middle class residents targeted an equally significant percentage of civil servants for wrongful eviction.
The hypocritical spectacle of a tycoon’s police-hating offspring cynically deploying his inheritance as cover to pass himself off as a police benefactor is disgraceful. Moreover, the trustee position provides him numerous social opportunities to develop back scratching, first name basis relationships with high-ranking police officials sucking up for security management jobs at his father’s properties. Rob probably carries at least a half dozen 24-hour “get out of jail free” phone numbers stashed in his wallet and blackberry directory.
The Speyers’ bad faith deeds at ST/PCV clearly demonstrate their absolute disdain for NYC’s civil service workers and its middle class. These lawsuits, www postings and news media coverage (at least the accurate reporting anyway) will prevent them from altering history by burnishing a false legacy proclaiming the opposite. Perhaps a petition should be circulated and delivered to the Police Foundation recommending the board of trustees boot Rob out the same way he tried to boot hundreds of civil servants out of ST/PCV.
Hey! Look, they have matching sacks. Under their eyes. C'mon; y'all know they have no REAL sacks!