Stuyvesant Town-Peter Cooper Village Tenants Association

Stuyvesant Town-Peter Cooper Village Tenants Association


Tuesday, August 10, 2010

Statement on Pershing Square and Winthop Realty Trust’s Acquisition of Stuyvesant Town Mezz Debt

The ST/PCV Tenants Association has understood from the outset of the process to restructure the financial mess bequeathed to the community by TIshman Speyer that the road ahead holds unexpected twists and turns. So we are not surprised to see a new player—in this case Pershing Square Capital —enter the fray.  Together with our advisors,  we are willing to evaluate any proposal and work with any party who shares our goals and who seeks to reach a restructuring that is in the best interest of all concerned, especially the residents who make this community the valuable asset that it is for our city. 

The tenants of our community are united.  We are committed to the principles we have laid out to determine our own destiny: being able to purchase our homes or remain as renters, preserving long-term affordability, keeping a high level of maintenance, preserving our open spaces, and ensuring that we have a stable future.  These are our homes and we will protect them.  We will make certain that no outside entity will be able to maneuver around us.

Posted by Hi-Def
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