Major private equity firm to acquire major NYC apartment complex…



Dave is a part-time blogger that writes about whatever suits him at the time.

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5 Responses

  1. It’s ironic that Peter Cooper Village is being guaranteed continued affordability just as Cooper Union is losing it.Report

  2. Avatar DensityDuck says:

    “The deal includes an agreement that would keep almost half of the more than 11,000 apartments affordable for 20 years.”

    The guys running AirBnB were reported to have sent out for two dozen packs of new underpants after hearing this announcement. “It’s not that we’re happy to hear of apartments required by law to be set below market rate in an insanely-expensive place like New York City, thereby providing a strong incentive to illegally sublet them at market rate using our service. It’s just that–ooh, there I go again. Joey, throw me another pack, hey?”Report

    • Not the imagery I’d use, but the sentiment is correct and that is a way AirBnB is being used — enough so that cities are trying to ban people from sub-letting through AirBnB for more than a certain portion of the year.Report