On Thursday, August 19th a court granted a temporary restraining order until September 2nd. Read more about it here.
Led by CW Capital, the special servicer for the senior debt, Bank of America and U.S. Bank Corp have filed papers in N.Y. State Supreme Court in Manhattan on Wednesday to stop the foreclosure action by the Pershing Square and Winthrop Realty partnership scheduled for Wednesday, August 25th. Read the statements on this action by Tenant Association President Al Doyle and Council Member Dan Garodnick.
Tenants Association president Al Doyle’s statement on the Pershing Square and Winthrop Realty Trust move and a restatement of the unwavering principle goals of the unified tenants of Stuyvesant Town and Peter Cooper Village.
Pershing Square Capital Management and Winthrop Realty Trust have bought the first mezzanine loan on Stuy Town and Peter Cooper and have announced they plan to auction the property on August 25th. In a Tenant Alert, Association president Al Doyle gives an initial reaction to the move.
Plaintiffs in the Roberts (J-51) case scored a significant victory in an order published Thursday, August 5th on the Court website. Justice Richard Lowe of the New York State Supreme Court ruled to dismiss the case, brought by Met Life, paving the way to the possibility of retroactive payments to former market rate tenants. Details will follow.