Via various Stuy Town Tenants
Continue reading Stuyvesant Town - A Week in Photos.
Via The New York Times
Doua Moua, 23, played a menacing gangster in a Clint Eastwood movie, but Mr. Moua swears he really is a nice, gentle and rules-abiding fellow. At least he was until he moved to New York City and unwittingly slipped into a world of lawlessness.
Mr. Moua lives with five roommates. And in New York, home to some of the nation's highest rents and more than eight million people, many of them single, it is illegal for more than three unrelated people to live in an apartment or a house.
The law, for decades part of the city's Housing Maintenance Code, is little known, widely broken and infrequently enforced. Three citations have been issued since July, according to the Department of Housing Preservation and Development.
When the law is enforced, it is usually because of a complaint from a neighbor or because inspectors spotted a violation while responding to a maintenance problem. The violation is rarely written up unless it is accompanied by a host of others. Rarer still are the tenants who call up the city to turn in their landlord.
Continue reading "In New York, Breaking a Law on Roommates" @ The New York Times
Via The Wall Street Journal
Federal regulators are probing bets made against stocks before new offerings, in inquiries focused on hedge funds including Appaloosa Management LP and Carlson Capital LP.
Appaloosa, a $13 billion New Jersey firm run by David Tepper, has been scrutinized by the Securities and Exchange Commission over trades it made around the time Wells Fargo & Co. agreed to acquire Wachovia Corp. in 2008, according to people familiar with the matter.
Regulators also have questioned trades by Carlson, a $4.9 billion firm based in Dallas, in connection with four secondary stock offerings between late 2007 and mid-2009, according to a person familiar with the matter.
"Carlson Capital has been cooperating voluntarily and fully with the SEC relating to an inquiry in connection with 'Rule 105,' and will continue to do so," a spokesman for the firm said in an email. Appaloosa is cooperating, according to people familiar with the matter. A lawyer for Appaloosa declined to comment. A spokesman for the SEC declined to comment.
At issue is a federal provision known as Rule 105, part of Regulation M, which aims to prevent manipulation of securities prices. The rule generally prohibits investors from shorting a stock, or betting against it, five days before issuance of new shares, in order to gain an advantage by buying the shares at depressed prices. The practice, the SEC has said, can reduce an issuer's proceeds and give investors making the trade an unfair edge.
The SEC has settled with investment firms over this issue in the past. The rule, which the SEC has described as an "antimanipulation rule," has been in place for years but was strengthened in 2007.
Mr. Tepper of Appaloosa is one of the most-successful managers in the industry. Carlson is a 17-year-old firm run by Clint Carlson, who previously was a senior investment manager for the billionaire Bass family of Fort Worth, Texas. Carlson Capital oversees a family of hedge funds that go by the name Black Diamond.
Via Bowery Boogie Via EV Grieve
A new major cable network documentary wants to hear your rat tales and what better place to dish on rats than in Stuy Town!
Wanted: if you have a rat problem, a new tv series will help for free (Manhattan, Queens, Bk, Bx, SI)
A new documentary science show on rats in the 5 boroughs is currently in production. We'll set you up with an accredited local pest control company that will tackle your rat problem, and follow the process of making your home or business a rat-free zone.
All correspondence will be kept strictly confidential AND we won't even need to mention or show the name or location of your business or home/apt.
email sciencetvshow@gmail.com to find out more.
Via The New York Observer
The hedge fund angrying up the waters in Stuyvesant Town's foreclosure has filed a testy response in federal court to the firm controlling the 11,200-unit property, complete with colorful legal vituperation. The fund, Appaloosa Investment, is suing the special servicer that controls the property for taking the complex through a foreclosure process against the will of certain bondholders who own pieces of Stuyvesant Town (namely, Appaloosa, which says it has $800 million invested in the securitized bonds that include Stuyvesant Town).
Appaloosa, controlled by billionaire David Tepper, filed a complaint in February, alleging that CWCapital didn't have the right to move forward on the foreclosure; and, then earlier this month, the special servicer responded that it did have the right, and that the hedge fund didn't even have the right to sue.
Appaloosa's attorneys didn't seem to receive this well, calling CWCapital's response a "a masterpiece of misdirection."
"CWCapital's Response demonstrates why abuses in the last generation of securitizations brought this country to the brink of financial collapse," the filing says.
Continue reading "Hedge Fund to Special Servicer: Stop the 'Revisionist History' On Stuy Town" @ The New York Observer
Oh, it's that time of year again. The days are getting longer, the weather is getting warmer, and the Stuy Spies are once again out with their cameras. It's Spring...but you'd never know it in Stuyvesant Town!When Tishman Speyer took control of the property a few years ago, they loved telling the press repeatedly how they spent "millions of dollars" on new trees and plants, even hiring Peter Walker and Partners Landscape Architecture to landscape the property. Of course what they didn't share was their unconventional approach to the beautification process.
It was common for Tish-Spey to have dozens of small trees delivered and let them sit above ground for weeks before either planting them, or throwing them into a wood chipper because they died. One resident even caught them on video! When they planted flowers, they would jam hundreds of beautiful flowers into a single area, only to rip up the thriving plants two-three weeks later and replant something totally different.
Now with no money left in their budget for Robbie's Red Bull, let alone landscaping, the Oval is surrounded by small trees that died in the ground soon after planting. The Oval lawn itself is nothing but a quarantined patch of crab grass and the sidewalks throughout the complex are frequently covered with the dusty, sand like dirt because Tish-Spey never used any top soil.
SO this is what "millions of dollars" of landscaping looks like?
Dear Styuvisant Town Residots,Spring is finally hear! The tulips are blooming bright, the birds are chriping mad loud at 3AM, and the dog poop is festering in the sun which can only mean one thing. No, not the apocolypse! Your most valuable conseairges are ready and waiting to host your next Spring event!
Lets face it. Winter is crummy. Buying gifts for your boss and the cranky grandparets is no fun, and then comes the January bills. It's bad enough your weekly paycheck reminds you how your New York City dream life isn't turning out quite so hot but then to have those nasty bills rub it in your face? So rude!
Manny sayz Spring is about chillaxin and enjoying the new season and the warm weather. And what better way to do it than in the serene Oval? That's why we would like to invite you to try something new this holiday season and host your Easter or Passover dinner at one of the Oval spaces.
Contact us today and we can help your plan the most specktacular Passover dinner ever! What better way to indtroduce your conservative Jewish mother to your new shiksa than with a hearty helping of Gelfling fish and the hollah? Then afterwards you can take all the neighborhood cathlic babies, dye them Easter egg colors, and hide them in the Oval for a hunt! WHAT fun!
And for the Catholics. We know it will be hard to top the children's crucifixtion class hosted by Amanda Lepore, but why not settle down in Oval Film and celebrate Easter with a cup of the blood of Christ, snack on some holy toast, and indulge in a marathon viewing of the Diary of Anne Frank - The Musical? Even have you pikcha taken with Henry Hennesy the Easter BUnny!
Or maybe controvertial religion isn't your thing and you want to host a suprise birthday party in a see through oval room, throw water ballons at your kid, or wear weird masks to your own key party as depicted in our postcard. Whatevs. It's all good.
So come see for yourself the diverse ways you can celebrate spring in Stuy Town with the Oval spaces. And remember to tell them Manny sent you!
Manny
Oval Conseirg
American Leesure
Newark Airoprt
Soda Tax
Image & tip courtesy of EV Grieve
With the Stuyvesant Town Blockbuster closing soon, local residents are saddened by the sudden loss of mediocre movies the chain store proudly peddled. With no other video rental stores nearby, residents fear the worse and may have to start leaving their apartments more regularly.
The news came this week in the form of large signs hung in the store front: "Store Closing! Everything 10% to 30% Off!" The mega chain had been in this location for over seven years, taking over the space previously occupied by Lechters Housewares. At first, residents were not happy with the inclusion of a run of the mill video chain occupying such a large space in the neighborhood, but when Tishman Speyer showed up they soon had a change of heart.
"I was mad when Blockbuster moved in," says Betty Bichon of 3 Stuyvesant Oval. "I was hoping they would put something useful in there like a food store. But then Tishman Speyer took over the property and between the construction noise and the cowboys running wild, I spent more time indoors watching movies. I rented Annie at least once a month. The sun had to come out somewhere, right?"
Parents also moved their children indoors when the construction activity made the property too dangerous. "After my daughter's baby carriage was struck by a Tishman Speyer employee driving drunk in a golf cart, I started hosting play dates in my apartment," says a resident who asked to remain anonymous. "Blockbuster had Barney, Dora, and Diego and I had a chilled bottle of white to enjoy while the girls did whatever. It was perfect. Now I'll have to hire a sitter I guess."
Newer residents who like the neighborhood because it reminds them of where they're from are also devastated. "Jennifer Aniston, Kate Hudson, Matthew McConaughey... all of my favorite stars are gone, just like that," sobs Tina Trinsdale, who recently moved to Stuyvesant Town from Mineola. "Those movies at Kim's scare me!"
When asked what she'll do with her newly found free time, Bichon said, "I think my neighbor is running an escort service out of her apartment. I'll keep you posted!"
Via the ST/PCV Tenants Association
The Stuyvesant Town-Peter Cooper Village Tenants Association is establishing four committees to serve in an advisory capacity to the Board of Directors. Executive vice president Susan Steinberg introduced the program at the March 13th tenants meeting and invited qualified residents to submit their names.
Below is a list of these new committees.
- Finance and Real Estate
- Legal
- Organizing
Maintenance
Complete descriptions of these committees and other volunteer opportunities can be found on our Volunteers Page.
If you have not already applied and are interested in joining one of these advisory groups, please use our Contact Form to communicate your committee choice, address, phone and e-mail, and relevant information about your background.
To quickly and properly route your request, when completing the form, please put the name of the committee you wish to join in the Subject and choose category, Organization and Volunteering from the drop-down list.
We will get in touch with you very soon.
Thank you.
###
PLEASE: WE NEED YOUR FINANCIAL SUPPORT
Your Tenants Association is run exclusively by volunteers.
Please help defray the cost of legal, professional, communication, and meeting expenses. To save time and effort, donate online. Or mail a check payable to: ST/PCV TA, P.O. Box 1202, Stuyvesant Station, NY 10009 1202. Thanks.
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Stuy Town News
10/23/09 While NYC Renters Rejoice, More Pain for Tishman and Co. [WSJ]- 10/23/09 Tsk, tsk, Tishman [NY Post]
- 10/23/09 Why Jerry's $5.4B gamble failed [NY Post]
- 10/22/09 Stuyvesant Town Ruling Worries Tenants and Landlords Alike [NYT]
- 10/22/09 Court Deals Blow to Owners of Apartment Complex [NYT]
- 10/22/09 Tishman Rent Rise in Manhattan Voided by New York’s Top Court [Bloomberg]
- 10/22/09 Court Shakes Up New York Landlords [WSJ]
- 10/19/09 StuyTown Tenants Fear Inspections [WNYC]
- 10/15/09 Stuyvesant Town-Peter Cooper Village Tenants Association seeks second chance to buy building complex [NY Daily News]
- 10/15/09 Commercial Real Estate Watch: Stuyvesant Town Set To Implode [Business Insider]
- 10/15/09 An Apartment Complex Teeters [WSJ]
- 9/11/09 Stuy Town Down [NY Post]
- 9/10/09 Tishman Speyer's Stuyvesant Town Lost $3 Billion [Bloomberg]
- 9/10/09 Stuy Town Owners in Court Over Rent Boosts [NBC NY]
- 9/10/09 When a Real Estate Deal Goes Bad [NYT]
- 9/9/09 Tishman, BlackRock, Could Default on Stuy Town Loans [Real Deal]
- 9/9/09 ST / PCV on the Verge of Ruin [Gothamist]
- 9/9/09 Bloomberg's Rich Friends, and His Silence on Affordable Housing [The Awl]
- 9/1/09 Florida Lost $250 Millionon New York's Stuyvesant Apartments [Bloomberg]
- 8/31/09 Fitch: Stuy-Town Debt Reserve May Run Dry [Globe St]
- 8/25/09 Cash Crisis for America's Most Expensive Housing Complex [Multi Family Investor]
- 8/22/09 Stuy Town Cash Crisis [NY Post]
- 8/6/09 Welcome to Stuy Town U [NY Press]
- 7/21/09 Rape in Stuyvesant Town [NY Post]
- 7/15/09 Targets Elderly Men [The Villager]
- 7/14/09 East Side Attacker Of Elderly Re-Emerges [CBS News]
- 6/12/09 Police release video of suspect in muggin spree [NY Daily News]
- 6/4/09 I Really Don’t Think People Defecate in the Hallways of Stuyvesant Town [NY Magazine]
- 5/27/09 Now It's War [Curbed]
- 5/22/09 Group of Stabilized Tenants File $10M Suit [Curbed]
- 5/21/09 Landlords Could Soon be Responsible for Indoor Air Quality [Epoch Times]
- 4/7/09 Tishman Speyer Victory: Can Appeal Stuy Town Rent Ruling [Huffington Post]
- 5/18/09 Protections Sought For Foreclosed-Upon Renters [City Limits]
- 5/6/09 Stuy Town Woman Fondled by Teen [NY Post]
- 4/23/09 Gang Violence Leads to Mounted Partol in ST [Town & Village]
- 4/9/09 Perv Plea: Save My Stuy Apt [NY Post]
- 3/6/09 Stuy Town Owners Set Back on Rents [Metro]
- 3/6/09 Big Landlord Found to Have Wrongly Raised Rents [NYT]
- 3/6/09 Stuy Town Rent Win [NY Post]
- 3/5/09 NY court deals landlords huge setback [Crain's]
- 3/3/09 Study Questions Whether Cameras Cut Crime [NYT]
- 2/25/09 Stuyvesant Town Debt May Be Cut If Rent Law Changes [Bloomberg]
- 2/25/09 Fitch may downgrade New York City apartment CMBS [Reuters]
- 2/5/09 Proposed Rent Rules Stir an Owner Outcry [NYT]
- 2/1/09 Clash of the Utopias [NY Mag]
- 1/20/09 Illegal walls turn NYC apartments into firetraps [MSNBC]
- 1/14/09 Apartments Try to Stay Afloat [WSJ]
- 1/11/09 STUY TOWN OWNER SUED OVER 'EVICTION SPREE' [NY Post]
- 12/31/08 Tishman Close To Figuring Out If Stuy-Town Was Worth It [NY Observer]
- 12/16/08 A List a Landlord Doesn’t Want to Be On [NYT]
- 11/21/08 NYPD Daily Crime Blotter [NY Post]
- 11/13/08 Unclear why E Side water runs brown [NY Daily News]
- 11/13/08 Brown tap water plagues NYC residents for weeks [WCBSTV]
- 11/11/08 Will Tisnman Speyer Buckle [The Real Deal]
- 10/28/08 No gas for one week steams Stuy Town [NY Daily News]
- 10/26/08 Tishman Speyer up against residential rout [Crain's]
- 10/26/08 A Shift in Albany Could Avert Higher Rents [Gotham Gazette]
- 10/21/08 Heat's on Tishman [NY Post]
- 10/17/08 Stuy Town Fight Club [Curbed]
- 10/13/08 Managers facing ‘Survivor’ challenge [PI]
- 10/7/08 What the Other Half Thinks [City Limits]
- 9/29/08 Big Squeeze on Affordable Housing [NYP]
- 9/28/08 More City Apartments Facing Foreclosure [Crain's]
- 9/27/08 Stuy Town Blues [NYP]
- 9/17/08 Stuy Town a Money Loser for Tishman? [WNYC]
- 9/8/08 Out of Control [Barron's]
- 8/27/08 From a Doorman to Dorm Rooms [WSJ]
- 8/26/08 Fear of Defaults After a Flurry of Apartment House Sales [NYT]
- 8/3/08 Tishman's Stuy Buy Hurting [New York Post]
- 7/23/08 Revenues at Stuyvesant Town are Down [Gothamist]
- 7/23/08 Stuyvesant Town Revenues Have Fallen, Report Says [NYT]
- 7/15/08 Stuyvesant Town Renters Rally in Wake of WallGate [Curbed]
- 7/14/08 Stuy Town Wall Woes [New York Post]
- 7/5/08 A Very Stuyvesant Town Fourth of July [Gothamist]
- 7/2/08 Tishman Speyer Canceled Pressurized Wall [Curbed]
- 6/29/08 Life After Tenements [NYT]
- 6/22/08 Far From the Fairways, Unpopular Visitors [NYT]
- 5/27/08 Stuy Town Follies: Now It's War [Curbed]
- 5/27/08 Tenants Roiled by Challenges on Residency [NYT]
- 5/27/08 Renters Forced Out of Stuyvesant Town [NYT]
- 5/22/08 Preserving Stuyvesant Town [NY Sun]
- 5/8/08 Everybody's Sexy in Stuyvesant Town! [NYMAG]
- 3/5/08 Stuyvesant Town, Desperate for Renters? [Gothamist]
- 5/27/07 Tenants Blast Stuy Town 'Spying' [NYP]
- 5/27/07 Landlord probes tenants in fight over apartments [WABC]
- 10/21/07 Child Pornography Arrest Stirs Previous Allegation Against Therapist [NYT]
- 1/16/07 After Sale, Rent Increases Give Some Sticker Shock [NYT]
- 9/23/06 Complexes’ Seller Pushes Profits, as Critics Fear Higher Rents [NYT]
- 7/12/06 An Earlier Case of a Gas Explosion After a Broken Relationship [NYT]
- 7/6/06 A Surprise Lurks at Stuyvesant Town - Luxury Rentals [NY Sun]
- 11/5/03 Stuyvesant Town tenants wary of N.Y.U. influx [The Villager]
- 10/23/02 Sniper Hits a Teacher at Stuyvesant Town [NYT]
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