I've lived in Stuyvesant Town for 5 years in a market rate apartment. I had modest increases (between 0 and 6%) under MetLife ownership but Tischman Speyer has redefined greed. My rent went up 20% this year and after 5 years my market rate apartment needs repainting, some new appliances and general work. Unfortunately, my 20% increase goes toward nothing other than lining the greedy pockets of our new owners. The laundry rooms are disgusting -- dirty, expensive and in constant disrepair. In addition, the market apartments are filling up quickly with college students, making life here for working people and families less desirable.

User Responses
From: Anonymous	Date: 04/13/2008
I lived in Stuyvesant Town for nearly 10 years, 5 1/2 in a rent-stabilized 1-br (with the old, inefficient kitchen layout) and 4, after getting married, in a renovated 2-br. I was generally happy there, including with the day-to-day maintenance, although we did have one very unpleasant 10-month period during elevator renovations when we were down to only one elevator that was slow and unreliable (one wheelchair-using neighbor got stuck in it for an hour or so when it stopped half a foot below the mezzanine exit level). But we left when our new Nov. 2007 lease came in with a rent increase of 40% for a 1-year lease or 50% for a 2-year lease. At least half that increase had already started happening under Met Life's management, and given that the rents were a bit low a 20-25% increase wouldn't have been ridiculous; but it was Tischman Speyer that took it beyond the bounds of reason. I just cannot see ever dealing with them as landlords again.

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