The Post reports that Tishman Speyer "failed to get a $1.5 billion Christmas bailout they had hoped to collect from Uncle Sam...to cover a cash shortfall" on Stuyvesant Town-Peter Cooper Village. In October, the state's highest court ruled that Tishman improperly charged market rates on previously rent-stabilized apartments while getting tax subsidies. The Post adds, "As of last month, the owners had just $6.75 million left in reserves for StuyTown, according to credit rating agency RealPoint. That isn't enough even to cover December's costs, which include more than 6 percent interest on a $3 billion loan." The complex has 11,000 apartments.
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