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| Re: Old London Melba Toast factory in Bronx relocating to NC - 228 jobs lost (554029) | |||
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Re: Old London Melba Toast factory in Bronx relocating to NC - 228 jobs lost |
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Posted by trainsarefun on Sun Jan 24 22:26:41 2010, in response to Re: Old London Melba Toast factory in Bronx relocating to NC - 228 jobs lost, posted by Dave on Sun Jan 24 22:12:09 2010. Stuyvesant Town/Peter Cooper Village has been a riot for me. They overpaid handsomely, vastly overestimated the amount to people they could impose luxury decontrol of rents on, took out a tremendous amount of debt, agreed to a tax rebate program with the government that said that they would agree to curb rent in certain ways which they then didn't, lost a lawsuit to that effect, and then they had the honor of being basically the one entity rejected for bailout funds from the New York Fed since, like, Lehman Brothers! Reportedly, the mortgages are going into default.There were others too who did eerily similar things. But I think that the BlackRock/Tishman Speyer Stuy Town deal may go down as one of the worst deals in real estate history, at least in modern times. |
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