Comments on: Keep Our Buildings Heavily Rent Regulated. In Return, We, The Residents of Stuyvesant Town, Give You 20,000 Votes!

By: What Role Might Stuyvesant Town Have Played in New York’s Latest Foreclosure Legislation? | MultifamilyInvestor

Thu, 17 Dec 2009 13:52:27 +0000

[...] by addressing the concerns of tenants at large-scale apartment complexes. After all, there are more tenants votes than owners’. Likewise, there are more homeowners and tenants than there are bank and servicing company [...]

By: What Are Foreign Investors’ Top 5 Global Cities For Real Estate Investment? | MultifamilyInvestor

Mon, 30 Nov 2009 02:39:14 +0000

[...] if New York drops further 2. how much further New York drops (FIRPTA, Stuyvesant Town, rent regulation, rising cap rates and vacancy rates) 3. how many additional Asian cities, [...]

By: Freddie, Fannie, and the Apartment Building Financing Debacle | MultifamilyInvestor

Mon, 23 Nov 2009 17:02:21 +0000

[...] Freddie and Fannie are beholden to Uncle Sam, expect our elected representatives to work out a deal for Stuyvesant Town, where principal is forgiven, Freddie and Fannie become majority stakeholders, and the apartment [...]

By: Toxic Commercial Real Estate Loans Caused What Percentage of This Year’s 123 Bank Failures? | MultifamilyInvestor

Sat, 21 Nov 2009 17:24:41 +0000

[...] According to DSNews.com, the answer is C, “conservatively” 75%, but Multifamily Investor thinks the answer is probably closer to D. Banks performed a shoddy job of underwriting commercial loans, accepting fanciful projections and assumptions. Exhibit A of such underwriting is Stuyvesant Town, the most expensive apartment complex in American history. [...]

By: Neil

Neil — Wed, 04 Nov 2009 14:56:45 +0000

Itay,

Yes, to make a finer point: government-salaried officials are using government money to create an economic situation that does not “make sense.” One might respond that government programs to help the poor and working class should not necessarily have a financial bottom line to them. Even if one accepts that argument, however, the income requirements for rent regulation are extremely difficult to enforce. Rent regulation, alas, is more luck than economics.