Court Rules Against Stuyvesant Town Owners in Tenant Lawsuit
They were judged to have improperly deregulated rent-stabilized apartments.
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They were judged to have improperly deregulated rent-stabilized apartments.
Sources tell the paper that, at maximum, the investment group headed by Tishman Speyer and BlackRock has until February before they run out of cash to service their debt on the massive property.
Though, I'll admit, I'm not above chuckling about it.
A judge ruled that they may owe tenant up to $200 million for illegally raising rent and deregulating apartments.
But despite the sleekness, they ran out of bagels!
The ‘Times’ and the ‘Post’ both ran obituaries for the city real-estate bubble today.
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