Ice Pick Burglar Nabbed!
Stuyvesant Town and Co-op City, you are safe again!
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The future of the massive housing complex will have to wait another week.
October 4 is the big day for the complex’s 25,000 residents.
Actually, Gerald Guterman has been there for years.
Or at least all up in one very key part of its debt.
Lenders are owed over $3.6 billion — not that they're going to get it.
And why is he ranked below the Speyers?
Appaloosa Management is flexing its muscles during foreclosure.
The powerhouse law firm will not seek compensation for its work.
Rather than face a painful and protracted foreclosure, the two companies have given up the massive apartment complex.
This means foreclosure will likely come sooner rather than later.
The impending financial disaster at Stuyvesant Town has gotten plenty of ink, but it may only be the beginning of a nightmare for tenants citywide.
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