NYU Not Planning to Buy Student-Occupied Apartments in Stuy Town

Though Stuyvesant Town and Peter Cooper Village, the 80-acre apartment complex on the East Side, is facing foreclosure, the nearly 150 New York University graduate students who rent apartments there will likely not be affected, and NYU has no plans to purchase the properties, said John Beckman, a university spokesperson. “Currently, everything is status quo ante,” Beckman told NYU News. “Buying the apartments is not currently under consideration.” Winthrop Realty Trust and Pershing Square Capital Management have collaborated to purchase the complex for $45 million, calling for a co-op conversion of the property, which has garnered interest from several developers who want to bid on the project, most recently Gerald Guterman. But NYU students who live there are only minimally affected by the ongoing legal and financial struggles plaguing the complex. “As far as when I was living there, NYU basically told us to disregard all info about the situation,” said Andrew Cardenas, a student. “All our rent was paid directly to NYU and even super-related work requests were always made through NYU, never using the Stuy Town services.”

Source

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: