Questions about Blackstone’s agreement
1. Why doesn’t the expiration of J-51 allow Blackstone to deregulate the remaining stabilized apartments, if they leave 5000 affordable, per the agreement with NYC? (But which 5,000 will they choose?)
2. Who does this deregulation effort really affect, other than long term tenants? Market rate tenants get very little benefit from stabilization. Frankly, it feels like market rate tenants are subsidizing others. I believe stabilization started for good reasons, but that too many folks are just plain greedy.
3. Why don’t Roberts tenants, who not only received money, but had their rents “frozen/managed” till 2020, have to abide by that agreement and return to “normal,” which might mean destabilization in some cases? They signed an agreement, didn’t they?