NYC
09/17/2010 07:07 pm ET Updated May 25, 2011

Stuy Town Apartments On The Cheap?

Veteran landlord/developer Gerald Guterman announced his intention to make a play for ownership of Stuyvesant Town/Peter Cooper Village and work with the tenants' association on an affordable co-op conversion plan. We didn't know he had gone into such detail about that plan with Reuters. Guterman believes that at least 8,500 of the 11,227 apartments in the two East Side complexes will be bought by tenants "if we have priced it correctly and provide the proper financing." Even longtime rent-stabilized Stuy Towners might not be able to complain about this insider pricing:

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