Following one Stuyvesant Towner's lead, other formerly market-rate renters in the complex have come forward in the comments on yesterday's 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. Decreases of $400-$500 per month seem more common (we received a couple more e-mails from renters who didn't wish to comment publicly) and there's even word of some units having stabilized rents calculated above the market-rate rents. Guess those vacancy allowance increases and 1/40th renovation-cost add-ons start to add up over time. Tenants will pay the lesser of the two rents in those cases. So, nothing too crazy quite yet, but when talking about that much in savings per month?not to mention the potential for the refund of monthly overcharges?maybe they're all golden tickets?
· A New Stuy Towners Rent Doesn't Excite [Curbed]
· All Stuy Town coverage [Curbed]