tag:blogger.com,1999:blog-1529519433734975958.post7835555733606439163..comments2023-11-05T01:32:12.181-08:00Comments on Mock The Market: Souring Stuyvesant Property Investment Portends More CMBS Pain AheadK10http://www.blogger.com/profile/00635420185722095187noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-1529519433734975958.post-72973908958859862012009-01-23T13:48:00.000-08:002009-01-23T13:48:00.000-08:00Thanks for the street color. So on top of bad cre...Thanks for the street color. So on top of bad credit markets, they are suffering on the legislative and apartment demand fronts. Ouchtown.Mr Wrightwoodhttps://www.blogger.com/profile/15000378383151942063noreply@blogger.comtag:blogger.com,1999:blog-1529519433734975958.post-56204733290631185312009-01-23T11:16:00.000-08:002009-01-23T11:16:00.000-08:00I live in Stuy Town as a market rate renter and ha...I live in Stuy Town as a market rate renter and have been following the situation pretty closely as I work in CRE and TishSpy is pretty screwed here. <BR/><BR/>The rent controlled tenets really hate the fact that TishSpy has been doing everything in their power hurt their landlords. <BR/><BR/>The biggest thing the tenants have done is brought to the attention to the city the pressure-walls that are technically illegal (although highly common throughout New York) that allowed new market rate tenets to increase 1BR apartments to 2BR apartments (also 2BR to 3BR and 3BR to 4BR) by subdividing the oversized living space. This was something I was able to do before it was brought to the city's attention and actually makes the ridiculous prices TishSpy is looking to affordable. I know for a fact that they have been having a much tougher time renting apartments since they lost their ability to put the pressure walls in and the prices they are currently advertising are now highly negotiable.<BR/><BR/>I am happy I will be moving out in another few months and even happier I don't work for Tishman.Anonymousnoreply@blogger.com