Landlord drops challenge to rent-stabilization at Manhattan’s biggest apartment complex
Roughly 11,200 apartments at Manhattan’s Stuyvesant Town-Peter Cooper Village complex will remain permanently rent-stabilized after the landlord dropped its attempts to overturn a landmark court ruling on Saturday.State law forbids landlords of rent-stabilized apartments from raising rents above a modest percentage set by a city panel each year.But Blackstone said on Saturday that it was dropping the appeal, and pointed to its “unwavering commitment” to the complex’s tenants.
“We were simply preserving our options in the event future court decisions were made that would impact this case,” said Blackstone spokesperson Jillian Kary. “However, we did not ever have plans to change how we treat rent-stabilized apartments at Stuy-Town.”“This is really good news. It means that all the apartments in Stuy-Town, not just some, are covered by rent stabilization and all the protections that it guarantees,” said Councilmember Keith Powers, a lifelong Stuy-Town resident.
Tenant Association President Susan Steinberg said she felt “relief and joy” in the wake of Blackstone’s decision. “We’re talking about thousands of residents who no longer have to fear that they’re going to have to move,” Steinberg said. “These people would have been unfairly targeted, when in fact they should remain rent-stabilized.”Around 28,000 people live in 110 buildings across the campus, which stretches from First Avenue to Avenue C and between East 14th and East 23rd streets.
The real estate firm Vornado is considering putting tennis courts and a giant billboard on a lot across the street from Penn Station before one day erecting a new commercial skyscraper.Samantha MaxGothamist is a website about New York City news, arts, events and food, brought to you by New York Public Radio.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Enphase’s ‘good enough’ quarter pushes stock 14% higherEnphase’s revenue drops 58% to $303 million
Read more »
Porsche 718 Boxster EV drops camo, shows new headlight designGet in-depth info on the 2024 Porsche 718 Boxster including prices, specs, reviews, options, safety and reliability ratings.
Read more »
FTSE 100 drops, Dow remains bid and Nikkei 225 makes new 34-year highOutlook on FTSE 100, Dow and Nikkei 225 as earnings season is quieting down
Read more »
Kanye West name-drops Taylor Swift again on new song 'Carnival'Ye, the rapper formerly known as Kanye West, has name-dropped Taylor Swift again on 'Carnival,' his new song with Ty Dolla $ign.
Read more »
iCarly's Nathan Kress Drops Freddie and Carly Fan FictionNathan Kress shared several songs that served as inspiration for key moments between iCarly's fan-favorite couple Freddie and Carly
Read more »
State drops assault charges against musher days after Iditarod disqualifies him from 2024 raceThe state dismissed and closed its case against Eddie Burke Jr. on Thursday. It’s not clear if the decision will have any effect on the Iditarod’s move to disqualify him from this year’s race.
Read more »