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 but three, including Stuy Town. A default on the megacomplex will likely come in January. [NYP]
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