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Sale of Stuyvesant Town and Peter Cooper Village a Disappointment

by Manhattan BP Scott Stringer

I am disappointed that the bid put forward by the tenants of Stuyvesant Town and Peter Cooper Village was not the ultimate winner in the bidding process. However, now that we have a clear understanding of who will own the apartments, we must begin to build consensus around preserving the qualities that have for decades made Stuyvesant Town and Peter Cooper Village one of the model affordable housing complexes in the country.

Throughout the sale process the residents of Stuyvesant Town and Peter Cooper Village asserted themselves as a powerful and cohesive voice. I have every expectation that Tishman Speyer will work towards ensuring the residents a continued voice in the process. Ultimately, it is the residents who will be directly impacted by this sale. Future decisions must take into consideration the thousands of families who have vested their futures in this unique neighborhood on Manhattan's east side.

The fate of Stuyvesant Town and Peter Cooper Village and its ability to remain affordable will be viewed as a case study in New York's ongoing crisis of affordability. If Manhattan loses these affordable units, we will take an enormous step backwards and send a message to our entire City, and the nation that the hard working, diverse communities who built this great City are no longer welcome to live here.

I am confident we can allow Tishman Speyer to reap significant benefits from their investment while preserving the character and affordability of this community. I look forward to continuing to work with Councilmember Garodnick, Speaker Quinn and the residents who have shown tremendous leadership and determination throughout this process.


Anonymous Anonymous said...

Met Life and the Mayor failed the people of Stuyvesant Town and NYC. They were greedy and went for the highest bid rather than what might set a strong precedent. We should impeach the Mayor and boycott Metlife. They should realize that this could eventually have an adverse effect on their profits.

10/18/2006 8:14 AM  
Anonymous Anonymous said...

This is absolute baloney. Met Life (and the new owner) will continue to deregulate apartment over time becuse the law allows them to do so. Stringer was part of the Sheldon Silver regime that allowed decontrol to become law. This has little to do with affordable housing and more to do with the voters, which is why Stringer is pandering here.

10/18/2006 11:43 AM  
Anonymous Anonymous said...

The tenants must all stick together and when election time rolls around show that we matter! This is indeed absolute crap! I vote for boycotts all around! As a 30 year tenat of Stuy Town, it's time our voices be heard! The mayor totally screwed every tenant in ST/PCV!

10/18/2006 5:06 PM  
Anonymous Anonymous said...

I have no sympathy for the tenants. Why should some NYC residents pay 1500 or less for an apartment while others pay 4-5 times as much for similar product? Let's put everything at market to be fair towards everybody who needs to find a place to live.

10/19/2006 2:51 PM  
Anonymous Anonymous said...

I think Bloomberg posted the last comment. If not him the greedy CEO of of MetLife probably did ways to rationalize ridiculous 3 billion dollar profit for themselves

10/19/2006 3:30 PM  
Anonymous Anonymous said...

Well I live in ST as a market rent tenent and I agree it's very unfair to not pay your fair share to live here. I've been here about 5 years now and alot of these rent controlled tenents have abused the system , many have homes on the island or other properties since they pretty much have had a free ride on our backs and Met Life's for years. And they were constantly at odds with the Met Life and Rose. Doing nothing but bitch bitch bitch. Well, Met - Life is gone now and the real world is coming in fast.BTW What the hell does the Mayor have to do with it? He doesn't own this property and he has no jurisdiction on it either did you people sleep through civics classes when you were a kid or something?

10/19/2006 10:11 PM  
Anonymous Anonymous said...

its ok because now all the market renters are gone so they can make a profit so if you have been here only five years im happy to see you go .

10/21/2006 4:24 PM  
Anonymous Anonymous said...

It is inevitable that those on RS will be mostly gone in 10 years so I see Stuy as a pit stop. I have been here on RS since 2000. I will not qualify for the mayors proposed new middle income housing in LI city needing incomes $60,000 to $125, 000 because I will be retired and I won't qualify for SCRIE which is attached to the Rent control laws which will disaappear possibly in 2011 because I will have too much income. So I will most probably have to leave the city I love in which I raised my family and where I was a productive citizen.
I will fall though the cracks.

10/21/2006 11:16 PM  

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