New York City’s biggest landlord has stopped apartment renovations at
the giant Stuy Town apartment complex as it weighs the impact of new
rent laws on its bottom line.
The company said last week , “In light of the recent legislation, we
are in the process of evaluating capital investments at Stuy Town.”
Blackstone owns over 14,000 apartment units across the city. As well
as the 11,200-unit Stuy Town rental, the world’s biggest asset manager
owns Kips Bay Court in Manhattan and Parker Towers in Queens.
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