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Stuy Town Rent Freeze Thawing; 100 Apartments Available!

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A spokesman for Tishman Speyer just sent over a statement explaining that the Stuyvesant Town landlord's inability to rent vacant apartments while the rent-stabilization mess got sorted out is ending along with the wild and wacky year of 2009. On January 4th, approximately 100 vacant apartments will be available at rent-stabilized rates calculated on a per-apartment basis. Tishman Speyer will be going down the waiting list in chronological order until the apartments are filled.

Here's the deal:

As of January 4, 2010, we will begin leasing approximately 100 vacant apartments to those who contacted us to be placed on a waiting list following the Court of Appeals decision in the J-51 case. A small number of apartments, with interim rents substantially below market, are being offered to current rent stabilized residents of the community, with the remaining apartments being offered to all others on the waiting list. We are contacting those who joined the waiting list first and will move down the list in chronological order until each available unit is leased. “The interim rents on these apartments have been determined using the same formula that was used to determine interim rents for existing tenants pursuant to our recent agreement with the tenant plaintiff’s counsel. As is the case with current residents, each new resident will be afforded the rights of automatic lease renewal and succession rights available to rent stabilized tenants, during the term of the interim agreement and any extension of it.

The interim agreement is in place for six months, though the court's ruling would seem to indicate that the stabilized rents are here to stay.
· Stuyvesant Town coverage [Curbed]