Gothamist: Tenants Want to Bid on Stuyvesant Town-Peter Cooper Village

John

Wed, 06 Sep 2006 20:01:54 -0500

I'm totally in agreement but you know what the develepors argument will be?. They'll say, "But this is not a communist country and we have a right to develop the land as we see fit because it's our private property" or some crap along those lines. Let's face it, we're living in an era were "money talks" and man it just won't shut-up!. If anyone mentions the 'interests of the people' they just label you a socialist and dismiss your argument outright. Best case scenario: they limit themselves to adding more units somehow or, Worst case scenario: They either get rid of or eventually phase-out the older tenants and then scrap the whole neighborhood to start from scratch. Unless something unexpected happens (like Jesus Himself comes down from Heaven to intercede for example)then StuyTowns countdown will begin the moment the sale is done.

rescueblues

Wed, 06 Sep 2006 10:56:33 -0500

That's why the city needs to get involved. Nobody should be giving 80 acres away in the Lower East Side to a syndicate of developers. That's just corporate fascism. Thankfully the zoning laws will prevent the place from becoming an amusement park on the river or something, but mre things need to be done to prevent what the above comment is saying.

John

Tue, 05 Sep 2006 19:28:21 -0500

I have the nagging suspicion that if that sale goes thru, those 80 acres will be leveled and then redeveloped from scratch. Out with the old, in with the new. Literally. I mean mean OUT. Prime downtown NYC real estate is NOT going to be allowed to 'languish' unproductively such as at present when it could ALL be 'redeveloped efficiently' for a huge profit. 80 acres?. That's a chunk of real estate man!. Mark my words: StuyTown is soon to be no more.

rescueblues

Tue, 05 Sep 2006 16:21:33 -0500

There will be a 2-3 year no flip clause.

just my guess

Tue, 05 Sep 2006 13:47:08 -0500

As if the new resident owners won't eventually try to flip their purchases at market rates.