THE COUNCIL OF THE CITY OF NEW YORK
OFFICE OF COMMUNICATIONS
CITY HALL
NEW YORK, NY 10007

Statement by Speaker Christine C. Quinn
Re: Stuyvesant Town

"Since the initial sale of Stuyvesant Town and Peter Cooper Village nearly four years ago, the City Council has been working to ensure that the rights of tenants are being protected.  Today's news that Tishman Speyer will miss a loan payment has raised concerns among many residents about the future of their homes.  We remain committed to protecting affordability, and we will continue to closely monitor the legal proceedings to prevent any negative effect on residents."