Category: Stuyvesant Town

Month in Review, November, 2015: Part 2, Can’t live without them

5 January, 2016 (10:00) | Affordability, Air rights, Apartments, Dormitories, Hamden, Housing, Month in review, New York City, Pagedale, Real estate taxes, Stuyvesant Town, Taxation, Universities |

[Continued from yesterday’s Part 1.] By: David A. Smith As November rolled along, my story of Quinnipiac University and its fractious relationship with its home town of Hamden reached the point where Hamden needed a Plan B, and it had not far at all to look, for adjacent to prickly Hamden was welcoming North Haven, […]

Month in Review, November, 2015: Part 1, Can’t live with them

4 January, 2016 (10:00) | Affordability, Apartments, Dormitories, Hamden, Housing, Month in review, New York City, Pagedale, Real estate taxes, Stuyvesant Town, Taxation, Universities |

By: David A. Smith I am the main character, aren’t I? Although this blog is anchored in housing, my November posts were monopolized by issues of local government – because when all is said and done, quality sustainable urban affordable housing can exist only where there is functional local government. Without sustainability, one obtains the […]

Stuy, stuy again? Part 5, The different future

4 November, 2015 (10:00) | Affordability, Air rights, Apartments, Blackstone, Capital markets, de Blasio, Investments J-51, Negotiation, New York City, Recapitalization, Regulation, Rent stabilization, Rental, Stuyvesant Town, Tax abatement, US News, Workforce housing |

[Continued from yesterday’s Part 4 and the preceding Part 1, Part 2, and Part 3] By: David A. Smith Not only does the story of Stuyvesant appear heading for a happy ending – at least for those still standing, such as the current mayor and the buyer Blackstone, if not for those bruised and battered […]

Stuy, stuy again? Part 4, The different prospects

3 November, 2015 (10:00) | Affordability, Air rights, Apartments, Blackstone, Capital markets, de Blasio, Investments J-51, Negotiation, New York City, Recapitalization, Regulation, Rent stabilization, Rental, Stuyvesant Town, Tax abatement, US News, Workforce housing |

[Continued from yesterday’s Part 3 and the preceding Part 1 and Part 2.] By: David A. Smith As we saw in the three preceding parts of this sage, Blackstone’s purchase of Stuyvesant Town from the post-foreclosure bondholders, and its simultaneous affordability restructuring agreement, was the logical (perhaps in hindsight inevitable) outcome of the property’s history […]

Stuy, stuy again? Part 3, The different players

2 November, 2015 (10:00) | Affordability, Air rights, Apartments, Blackstone, Capital markets, de Blasio, Investments J-51, Negotiation, New York City, Recapitalization, Regulation, Rent stabilization, Rental, Stuyvesant Town, Tax abatement, US News, Workforce housing |

[Continued from yesterday’s Part 2 and the preceding Part 1.] By: David A. Smith When MetLife (an insurance company that thought it was doing good in 1947 and paid the price for nearly six decades thereafter) sold Stuyvesant Town to Tishman-Speyer in 2006, the seller was ecstatic and the buyer was motivated – but then […]