When I look out my windowWhat do you think I see?
All Tishman Speyer's garbage
Staring straight back me!
Stuy Town, everyone's favorite firetrap, shows no signs of slowing down their controversial pressure wall construction. A Sty Spy snapped these photos of a crane loading a fresh batch of cheap construction materials / soon to be walls onto an Avenue C rooftop.When Tishman Speyer purchased the once thriving community in 2006, they quickly put a plan into effect that allowed college students and other budget-lacking folk to subdivide their semi-spacious apartments into dark hovels. With no common areas left in the apartments to "entertain" the frat-friendly tenants party in their bedrooms which are directly above the bedrooms of actual grown-ups trying to sleep.
But don't expect Stuy Town's leasssing agents to share this info with you on the apartment tours, they're too busy concocting lies to win cash and prizes!
Add late night construction to the list of reasons residents hate Stuy Town. For the past three nights, a construction project has taken place on 14th Street between Avenue A and First Ave. On this particular night a bitter resident on 14th Street had enough and sent us this video of the ongoings.
Calls to 311 and Con Ed followed. Con Ed says they have no projects at the location. Soon after the calls, the work mysteriously stopped. More videos to come.
Update: New videos after the jump including Con Ed workers fast asleep in their truck "supervising."
Update: New videos after the jump including Con Ed workers fast asleep in their truck "supervising."
Continue reading 14th Street Construction Work.
We gather the only thing more annoying than having to write blog posts about scenes like this is having to experience the filthy mess first hand. Oh Stuy Town tenants, how repulsed you must be to stop and take time out of your day to snap these now daily crime scenes.
Via the ST/PCV TA Mailing List
Attorneys for plaintiffs in the Roberts case have notified the Tenants Association that the the interim agreement that originally extended adjusted rentals and rent-stabilized rights for former Market Rate tenants until the end of June 2010 has been extended to the end of December of this year.
We regret the long wait between advisories on J-51. The attorneys are not permitted to make public statements while negotiations are in progress so we are forced to wait for formally released information from them before we can update you.
To read the statement and updated FAQs please visit www.stpcvta.org.
Via Crain's
An interim agreement between Stuyvesant Town/Peter Cooper Village residents and the complex's landlord, which lowered rents to estimated rent-stabilized levels, has been extended. The deal will now run through the end of the year, both parties announced Wednesday. This is the second extension.
Last October, New York's highest court ruled that a partnership led by Tishman Speyer and Blackrock Realty had illegally deregulated apartments while receiving certain tax breaks. Earlier this year, the court issued an order that adjusted rents for roughly 4,000 apartments, the number of units that were illegally deregulated. That order was set to expire this month. Under Thursday's agreement, affected tenants will continue to pay the lower of either their lease rent or an estimated rent-stabilized rent through the end of 2010.
"An independent consultant, retained in March, will continue with a unit-by-unit historical rent analysis over the next two to three months, and the parties expect that the matter will be resolved through good faith negotiations before the end of this year," according to a joint statement from Tishman and the attorneys for both sides of the case.
Continue reading "Stuy Town Rent Deal Extended" @ Crain's
Via Town & Village
Continue reading Construction on First Ave. bus route to begin.
Via The New York Times
Buses in New York are as slow as snails. It is as sure a thing as Yankees wearing pinstripes and congestion on the Cross Bronx Expressway.
But an ambitious $10 million project to bring European-style rapid-transit buses to First and Second Avenues -- among the most highly used and heavily congested bus routes in the nation -- is aiming to turn that truism on its head.
Starting in October, buses will be granted an exclusive lane to speed up travel on those avenues from Houston Street to 125th Street, a trip that can last an hour and a half -- the length of an Amtrak ride from Pennsylvania Station to Philadelphia.
Tickets will be sold at sidewalk kiosks, allowing passengers to board without stopping to fumble for change or a MetroCard.
Riders will be on the honor system: passengers will not have to produce a ticket unless asked. (A $100 fine awaits the dishonest.) And the buses will be equipped with three doors for quicker boarding and exiting.
The plan, to be announced on Monday, represents the latest move by the Bloomberg administration to siphon away space from private automobiles in favor of other forms of transport. Once dominated by trucks, cars and taxicabs, First and Second Avenues will now gain cycling lanes and concrete pedestrian islands, as well as a bus route meant to function more like a subway.
The city's Department of Transportation and the Metropolitan Transportation Authority hope that bus travel times will improve by about 20 percent.
Continue reading "Bus Lanes to Quicken Commute on East Side" @ NYT
Related
Aboveground 'subway' is comin' our way on East Side [Daily News]
New Bus-Only Lanes for Manhattan's East Side [The City Fix]
Via The New York Observer
Al Doyle wants to be a homeowner.
Six months ago, the idea was a far-off concept. But since then, the mustachioed, lifelong Stuyvesant Town resident who is president of the property's tenants association has seen the desire for a tenant-led purchase of the 11,200-apartment morph into an actual plan of action, as the idea has suddenly enlivened the city within a city on the East Side. A recent meeting on the topic drew more than 1,200 residents; more than 6,000 residents have signed a "unity pledge" expressing the intent to buy, and such chatter is as constant as the complex's red brick facade.
"We talked about it in our board meetings-we talked about it in our general meetings," Mr. Doyle said. "People would write letters to the editor of the Town and Village, and it seemed that everywhere we turned, almost everybody we talked to wanted to have this type of opportunity."
And so, now five months after the owners-a partnership led by Tishman Speyer that bought the complex in a record $6.3 billion deal in 2006-defaulted on the overleveraged deal, the tenants are on a mission. They hired real estate attorneys and financial advisers, and are now formulating a co-op or condo conversion plan that would raise enough money to buy the property's $3 billion mortgage from the debt holders. If the foreclosure goes as hoped, finishing up as soon as this fall, Mr. Doyle and the tenants could be in a position to own one of the largest properties in the city.
Continue reading "Taking Stuy Town" @ The New York Observer
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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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