New York Times: “Tenants Trying Again to Buy Stuyvesant Town and Peter Cooper Village”
November 30, 2011 Leave a comment
For the second time in six years, the tenants at Stuyvesant Town and Peter Cooper Village are seeking to buy the financially troubled complexes, which have served as a leafy refuge for generations of middle-class families in high-priced Manhattan.
The tenant association hopes to convert the adjacent complexes, with 11,232 apartments, into a condominium or cooperative under a plan in which residents could buy their apartments or remain as rent-regulated tenants. In what would be the largest conversion in the country, the tenants are seeking to preserve Stuyvesant Town and Peter Cooper’s role as an affordable home for teachers, nurses, firefighters, small-business owners and others like them.