Speyer

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Latest blogosphere posts tagged “Speyer”

  • Foreclosure Follies: Stuy Town Landlords Lack the Skills to Pay the Bills


    Curbed NYAuthority Authority: 668
    D-Day has finally arrived . After months of speculation on depleted cash reserves, the owners of Stuyvesant Town and Peter Cooper Village will miss a $16 million loan payment today, triggering a (technical) default and sealing Stuy Towns fate as the biggest real estate oopsie in history. Tishman Speyer and its ...
    2 hours ago
  • Partners Near Default on Stuyvesant Town


    DealBookAuthority Authority: 756
    The owners of Stuyvesant Town and Peter Cooper Village, the complexes overlooking the East River in Manhattan, will miss a $16 million loan payment Friday, which would put them in default on their mortgages, and the 20,000 residents in limbo, The New York Times reported.
    5 hours ago
  • Stuyvesant Town Owners Near Default


    NYT > TheaterAuthority Authority: 899
    Tishman Speyer Properties and BlackRock Realty, which bought Stuyvesant Town and Peter Cooper Village in 2005, will miss a $16 million loan payment Friday.
    15 hours ago
  • The Catch: Unfrozen Stuy Town Rentals Not Quite What They Seem


    Curbed NYAuthority Authority: 668
    The Catch, in which we present everything-looks-good-except listings, needs you! Send your nominees to tips@curbed.com and well consider them for public shaming. What/Where : 100 newly rent-stabilized apartments in Stuyvesant Town and its classier brother property, Peter Cooper Village. Looks Good, Right? : ...
    3 days ago
  • Stuy Town Opens to the Masses Again


    The New York ObserverAuthority Authority: 720
    Closed to new tenants since October in the wake of a mega court decision on rents, Stuyvesant Town is now opening its flood gates. Per a statement from a Tishman Speyer spokeswoman, the 11,200-apartment mini-city on the East Side will now rent 100 apartments to outsiders looking to get in. Thanks to the court ...
    1 week ago
  • Rentpocalypse Now: Stuy Town Rent Freeze Thawing; 100 Apartments Available!


    Curbed NYAuthority Authority: 668
    A spokesman for Tishman Speyer just sent over a statement explaining that the Stuyvesant Town landlords inability to rent vacant apartments while the rent-stabilization mess got sorted out is ending along with the wild and wacky year of 2009. On January 4th, approximately 100 vacant apartments will be available at ...
    1 week ago
  • Stuy Town Bailout Denied: With just $6.75 million left in...


    Curbed NYAuthority Authority: 668
    With just $6.75 million left in a reserve fund to pay its monthly Stuyvesant Town expenses, property owners Tishman Speyer and BlackRock applied for federal bailout funds —but the application was denied by the New York Fed . The bank received 58 applications for bailout bonds under its TALF program, and accepted all ...
    1 week ago
  • EnergyStar Buildings Have Reduced Carbon Emissions for Their First Decade


    Home Design FindAuthority Authority: 124
    The EPA Energy Star ® rating for buildings has been operating for a decade, with the result that the program has helped prevent the release of almost 120 million metric tons of carbon dioxide. Energy Star buildings typically use 35% less energy and emit 35% less carbon dioxide into the atmosphere than ...
    1 week ago
  • Rent Wars: A Guide to Stuy Towns New Rents


    Curbed NYAuthority Authority: 668
    Christmas came a few days early to the 4,400 or so newly rent-stabilized Stuyvesant Town-Peter Cooper Village tenants: January rent bills have reached mailboxes , reflecting the new, post-lawsuit rents. The recalculated rents are a mystery to most tenants, so tearing open the envelope will provide the same ...
    2 weeks ago
  • Sifting the Stuy Town Wreckage: New York mags Gabriel Sherman is...


    Curbed NYAuthority Authority: 668
    New York mags Gabriel Sherman is the latest to attempt to untangle the repercussions of Tishman Speyers imminent Stuy Town default , and he runs through a number of possible scenarios for the iconic rental property : Chapter 11, a tenant takeover, etc. Of course, the real Stuy Town parlor game is trying to ...
    2 weeks ago
  • Rent Wars: Tenants Say Stuy Town Not the Rentpocalypse


    Curbed NYAuthority Authority: 668
    Following one Stuyvesant Towners lead , other formerly market-rate renters in the complex have come forward in the comments on yesterdays CurbedWire item to swap updates on their new, stabilized rents. It appears that no one has yet found the Stuy Town golden ticket—a huge drop to, say, sub-$2,000/month levels. ...
    3 weeks ago
  • Temporary Accord Cuts Rents for Many at Two Complexes


    NYT > TheaterAuthority Authority: 899
    The action follows a ruling that Stuyvesant Town and Peter Cooper Village had improperly deregulated and raised rents at 4,400 apartments.
    3 weeks ago
  • Rent Wars: Stuy Town Tenants Get Christmas Gift: Stabilized Rents Return!


    Curbed NYAuthority Authority: 668
    Ever since the courts handed down the landmark Stuyvesant Town-Peter Cooper Village ruling, sending over 4,000 market-rate rental apartments back into the comforting embrace of rent stabilization, current market-rate renters in the massive complex have been waiting for the changes to go into effect. The Stuy Town ...
    3 weeks ago
  • Retrospectives: A Look at Second Avenues Big Dig and Bizarro Times Square


    Curbed NYAuthority Authority: 668
    New York magazine drops its annual " Reasons to Love New York " issue this week, tying a bow around the craziest 2009 ever. Ever . There are a few things that caught our eye, like this look underneath Second Avenue at subway construction for the T train (hear that , Boston haters?). Finally Upper East Side ...
    3 weeks ago
  • The Stuy Town Commandments: Predicting a default by Tishman Speyer...


    Curbed NYAuthority Authority: 668
    Predicting a default by Tishman Speyer on its Stuyvesant Town-Peter Cooper Village debts, the Stuy Town Tenants Association is writing up a " Statement of Principles " to present to any owner that eventually takes over the 11,000-unit property . Among the demands, according to the Post : That the new team "return it ...
    4 weeks ago
  • The Next Shoes To Drop In Commerial Real Estate - Part 1


    zero hedgeAuthority Authority: 743
    Everyone is now well aware of the plight of Stuy Town, which has become a set fixture on the front page of the daily press, and is expected to default on its underlying borrowings within a few months at the most. What will happen to the controlling equity, and the tenants at the multiapartment complex, is unknown. It ...
    4 weeks ago
  • Half Of Tishman Speyer Chicago Properties Default On Major Mezz Loan, Feds Maiden Lane Is Holder Of Mortgages


    zero hedgeAuthority Authority: 743
    The "CRE-fail" news of the day comes from Chicago where Crains reports that Tishman Speyer has just defaulted on a major mezzanine loan, part of a $1.4 billion package of loans, in which the Federal Reserve is the the main lender via its Maiden Lane I program. Tishman-Speyer, whose 11 Chicago CRE holdings can be ...
    4 weeks ago

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