Gothamist: Default Worries at Housing Complexes Bought by Developers

Snoopy

Wed, 27 Aug 2008 12:20:08 -0500

I live in Hudson Square aka West Soho and Nazareth PA so it's definitely possible to be in two places at one time. Some people can do it, others can't.

babyhitler

Wed, 27 Aug 2008 12:10:25 -0500

#9 - hey thanx for paying attention. I live in park slope AND tribeca. You can do both.

Snoopy

Wed, 27 Aug 2008 11:47:09 -0500

He gets around. Leave him alone

dr zippy

Wed, 27 Aug 2008 11:37:17 -0500

Gee, babyhitler, it was just yesterday that you lived in Park Slope.

Snoopy

Wed, 27 Aug 2008 11:07:23 -0500

Jacque, Those rents will return when they move them to the far side of Queens.

JacqueMehoff

Wed, 27 Aug 2008 10:44:33 -0500

I would live in ST or PCV if the rents were what they should be $700 for a 1bdrm.

babyhitler

Wed, 27 Aug 2008 10:38:11 -0500

I remember when I met this dude at the all points west festival and he asked where I live and I said Tribeca, I think he secretly wanted me to ask where he lived so I did and he proudly said he lived in stuyvesant town. Then I said "the white projects? how is living there?" Then his face got all dour and humiliated. Nobody wants to live in the projects even if it is nice.

MidCFrank

Wed, 27 Aug 2008 10:07:53 -0500

Tgirl -- you got it! Welcome to the new New York!

Tgirl

Wed, 27 Aug 2008 09:30:57 -0500

so wait, let me get this straight: a developer gets free land, courtesy of eminent domain, generous tax breaks for decades, and presumably operates at a profit from almost day one, all on the premise of providing middle class housing to city residents. Some years later, said developer then sells the complex at a massive profit for 5.4 billion dollars to another developer whose only prayer of turning around any kind of profit is to screw the residents out of their homes. Unless they default which also imperils the security of the tenents, ultimately screwing them out of their homes. Nice work.

blablanyc

Wed, 27 Aug 2008 09:20:36 -0500

I predict the Stuy Town/CPV buildings will be sold individually or in groups. This is not what we wanted in NYC.

blablanyc

Wed, 27 Aug 2008 09:14:15 -0500

The Stuy Town is despicable. They evict the residents and then use the apartments as New School dorms. Why doesn't the Mayor's office step in? http://stuytownluxliving.com/2008/08/stuyvesant-towns-rent-stabilized-tenants-face-mass-evictions.html

nicemarmot

Wed, 27 Aug 2008 09:13:00 -0500

Funny, I said that 2 years ago when I lived in Peter Cooper Village and experienced the Tishman Speyer buyout. Housing project + money = Housing project.