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Blackstone “warehousing” rent-stabilized apartments at Stuy Town

Blackstone Group is keeping some rent-regulated apartments at Stuyvesant Town and Peter Cooper Village vacant, sources say, after changes to the rent law impacted landlords’ ability to reap profits. There are between 20 to 50 units being left empty, according to the complex’s tenant association president Susan Steinberg. Blackstone, which in partnership with Ivanhoe Cambridge paid $ 5.3 billion for the 11,000-unit complex, had announced in July that it would halt renovations because of the new […]

The Real Deal New York

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