Tuesday, May 27, 2008

NYC Rent Insanity

Stuyvesant Town

Why did I even bother to look?

And it's in the news today too.

Tenants Roiled by Challenges on Residency
More than a year after buying Stuyvesant Town and Peter Cooper Village in Manhattan for a record-breaking $5.4 billion, Tishman Speyer Properties has accused hundreds of rent-stabilized tenants of living somewhere other than their apartments, a tactic that residents and their lawyers say is part of an aggressive attempt to drive out low-rent tenants to make way for high-rent ones.

Even if they manage to evict hundreds of fake residents, that'll only make the rents go even higher.

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