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Rent-regulation laws prompt Blackstone to halt improvements at Stuy Town

Blackstone has halted all improvement works at the 11,000-unit Stuyvesant Town and Peter Cooper Village complexes, citing new rent-regulation laws that prompted the move. It is the most significant step taken by a landlord yet as a reaction to the new rent laws that New York state passed last month. The new laws, which dealt an unexpected blow to the real estate industry, eliminate multiple controls given to landlords to increase rent, including the vacancy […]

The Real Deal New York

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