The New York Times writes: More than a year after buying Stuyvesant Town and Peter Cooper Village in Manhattan for a record-breaking $5.4 billion, Tishman Speyer Properties has accused hundreds of rent-stabilised tenants of living somewhere other than their apartments, a tactic that residents and their lawyers say is part of an aggressive attempt to drive out low-rent tenants to make way for high-rent ones.
Since December 2006, when Tishman Speyer began the process, about 800 rent-stabilised leases have been denied renewal because the landlord believed the tenants had a primary residence elsewhere, according to the company. More than 4 in 10 of those cases were later dropped, while 3 in 10 ended with tenants giving up their apartments.
Tishman Speyer says that the practice is simply an attempt to rid its buildings of tenants who are abusing the system. “We want a community of people who really live at the property,” said Rob Speyer, the president of Tishman Speyer. “We don’t understand the effort to protect the rights of people who are there illegally.” Read more from The New York Times.
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