From WSJopinion: Barely a month has gone since New York passed its new rent-control law, and the predictable problems are fast emerging
Barely a month has gone since New York passed its new rent-control law, and the predictable problems are fast emerging. Blackstone Group, which owns the Manhattan developments of Stuyvesant Town and Peter Cooper Village, is putting renovations on hold, reports Crain’s New York Business.
“In light of the recent legislation, we are in the process of evaluating capital investments at Stuy Town,” a Blackstone spokeswoman said. Maintenance, such as fixing leaks, must legally continue. But Crain’s, citing an unnamed source, says...
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