Statement of NYS Senator Thomas K. Duane on Tishman Speyer and Blackrock Realty's Surrender of Stuyvesant Town and Peter Cooper Village to Creditors

January 25, 2010

Residents of Stuyvesant Town/Peter Cooper Village (ST/PCV) and all who care about the future of this bastion of affordable middle-class housing in New York City are understandably concerned about the news that the complex will be turned over to its creditors.

To those creditors I say, first and foremost, the upkeep of ST/PCV must not be compromised and the tenantsf quality of life must be ensured. As the State Senator who represents the residents of ST/PCV, I will be keeping careful watch to ensure that the new management of this critically important housing resource preserves the rights and well-being of the tenants.

I will continue to work with my colleagues at all levels of government, tenants and their advocates to ensure ST/PCVfs financial stability, long-term affordability, and special character so that we not only preserve this housing for present tenants but for future generations of middle class New Yorkers.

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