Guterman hopes to get 5,000 tenants to hire him

By Sabina Mollot
Developer Gerald Guterman, who recently expressed his desire to see Stuyvesant Town tenants organize to demand a conversion and re-settle the “Roberts” and MCI settlements, while also hiring him as a consultant to help with the effort, has continued to pursue tenants as clients by drawing up a contract over the weekend.

However, he wants to see at least 5,000 tenants participate in such an effort. Otherwise, he warned, his LLC company, West Palm Beach-based Guterman Partners, won’t take the job.
“Before we can accept an ST/PCV assignment, it will be necessary for at least five thousand (5,000) separate residents families to sign a Consulting Agreement with a consulting subsidiary of Guterman Partners, LLC,” he said.
In exchange for his services as an independent contractor, he’d get $10 per participant (a total of at least $50,000).

His statement was part of a letter he wrote directed to tenants (though so far unmailed) asking them a number of questions such as whether tenants were told they’d be charged for the MCIs they received and for the “Roberts” tenants, if they received “the full dollar recovery” in damages for all the rent they overpaid. The letter also went into quality of life issues.

“ST/PCV residents, were you told (when you signed your lease) that the building you lived in was being converted to ‘high population’ student/dormitory housing?” He also blasted the recent concerts in the Oval as a scheme to attract students.
He also said, after the news that CW’s parent company Fortress was preparing a bid of $4.7 billion, that he wasn’t sure he was still interested in preparing a bid of his own, preferring instead to be a consultant in a tenant-led effort.

The contract itself, while saying Guterman would provide consulting services, makes no mention of the re-settlement of litigation, student housing or other issues he wants tenants to fight. Those issues are instead mentioned in the letter. Questions include asking if tenants were told, upon signing their leases, that the Oval would be rented out for commercial purposes or that businesses would come “alive” right on the Oval or that the quiet of tenants’ apartments would be disrupted “because the landlord is using mass-entertainment to attract students to the recently converted dormitory housing?”
He also invited tenants to contact him through the email address: stpcv@gutermanpartners.com.

A spokesperson for CWCapital declined to comment on Guterman’s letter.

As for the odds of Guterman being able to secure all the signatures he wants, it may prove a challenge. In May, 2013, attorneys representing tenants in the “Roberts” suit had a tough time just getting tenants to file their paperwork authorizing them to receive their damages checks. So much so that the Tenants Association and local elected officials stepped in to go door to door in ST/PCV in an effort to get tenants to file. This, recalled lead “Roberts” attorney Alex Schmidt, was even after all the “Roberts” tenants received documents in the mail with application forms.
Schmidt declined to comment on Guterman’s letter.

In previous statements directed at tenants, Guterman urged a “gloves off” fight in court against CWCapital in order to renegotiate “Roberts” and the MCI settlement and force a conversion and the end to student housing and apartments with pressurized walls.

When asked about this, an attorney very familiar with “Roberts,” Leonard Grunstein, said he thought that a court agreeing to re-consider the case was highly unlikely. After Stuy Town was put up for sale by Met Life, Grunstein was hired by the Tenants Association to help with a tenant-led bid. It was then that he discovered that landlords benefiting from J-51 tax abatements could not deregulate apartments, which is what ultimately led to the “Roberts” lawsuit.
“I don’t think that can change,” said Grunstein. “Anything is possible, but it doesn’t sound realistic. You would have to prove that they are overcharging new tenants.”

Another attorney, Jeffrey Turkel, who represents owners and groups representing the real estate industry, told Town & Village that generally, courts don’t like to overturn cases.
Turkel, along with a partner at his firm, Rosenberg & Estis, represented the Rent Stabilization Association, an owners’ organization, in “Roberts” when the RSA submitted an amicus brief, or document in support of Tishman Speyer.
Although he didn’t want to comment on “Roberts” specifically, Turkel said, “If someone wanted to undo or overturn a stipulation, they would have to establish fraud or mistakes or overreaching or something like that. Once a stipulation of a settlement is signed by two parties it is binding. What courts don’t like is for people to sign a stipulation and then come back and say, ‘We didn’t mean it.’ That’s basic, settled New York law. Otherwise, you’d have chaos.”

The Tenants Association, meanwhile, responded to the letter by defending its own conversion plan and partnership with Brookfield Asset Management.
“Now that our property is in play again, we expect old and new players to surface from time to time,” TA Chair Susan Steinberg said. “We are committed to delivering on our goals of long term affordability and stability for this community, and believe we have the right advisors and partners to accomplish that goal.”

Over 100 object to ‘Roberts’ MCIs, deductions

Tenants attorney Alex Schmidt Photo courtesy of Wolf Haldenstein

Tenants’ lead attorney on “Roberts v. Tishman Speyer” Alex Schmidt
(Photo courtesy of Wolf Haldenstein)

By Sabina Mollot
With the deadline for “Roberts” tenants and former tenants to file objections to non-payment deductions and retroactive MCIs having passed on Monday, attorneys have counted objections from 125 people. This is after over 5,000 “Roberts” plaintiffs received non-payment deductions (NPD) and former tenants in the class action had to pay retroactive MCIs, which were reduced or eliminated for current tenants only.

As of Monday, attorneys said there were 81 objections to the deductions from tenants believed by CWCapital to be in arrears with their rent, 22 objections to the retroactive MCIs, and 24 objections to both the arrears and the retroactive MCIs. While attorneys said they had not yet had a chance to review all the complaints, it did appear that the NPDs were being challenged because tenants thought they were inaccurate and former tenants’ reason for objecting to the MCIs was mostly lack of notice.

However, attorney Michael Liskow, of the firm Wolf Haldenstein, said former tenants were notified about the MCIs to be paid to the owner in the “Roberts v. Tishman Speyer” settlement agreement and the notice of the settlement that was sent to all the class members.
In some cases, former tenants may have been unaware of the MCIs due to their having moved out by the time they were finally approved by the state housing agency last fall. But even without notice, the MCIs have to be paid as a result of the settlement, attorneys have said.

‘Roberts’ tenants on how settlement, court win impacted them

Jennifer Kops, pictured with daughter Kiki at a Peter Stuyvesant Little League Parade in 2013, has moved within ST/PCV three times in four years. (Photo by Sabina Mollot)

Jennifer Kops, pictured with daughter Kiki at a Peter Stuyvesant Little League Parade in 2013, has moved within ST/PCV three times in four years. (Photo by Sabina Mollot)

By Sabina Mollot
Last week, residents and former residents of ST/PCV who were members of the “Roberts” class action finally received their long awaited damages checks.
As Town & Village first reported, over 5,000 of them received non-payment deductions and class members who were former residents were subject to retroactive MCI fees.
This week, T&V spoke with a few “Roberts” tenants to ask how the damages as well as the lawsuit itself, which led to lowered rents for many, changed their lives (or didn’t.)
Here’s what they had to say:

Jennifer Kops, a Stuyvesant Town mother of two who works as an administrative assistant, said she didn’t get anything in damages. She thought she’d be getting $434 but didn’t see a dime after legal fees, MCIs and nonpayment deductions. She grew up in Peter Cooper Village and after divorcing, returned over four years ago with children Jack and Kiki. In that time, she and her family have lived in two one-bedroom apartments in Peter Cooper and now a two-bedroom in Stuyvesant Town.
“We’re fine, but the suit didn’t do anything for me,” said Kops. She moved the last time since the upgrade to a two-bedroom was $3,350 a month, only $100 more than what she’d been paying at her last apartment. “Stuy Town is always a little cheaper,” she said.
Though making the rent has never been simple, “we wouldn’t want to leave,” Kops said.
Kops had been on the board of the Tenants Association for a few years, her kids are in the Peter Stuyvesant Little League and she is currently involved in the PTA at her daughter’s school, PS40. There she’s met other moms in similar situations to her own, tenants in Stuyvesant Town, who’ve turned living rooms into bedrooms with either pressurized walls or bookcases for their kids. This is what Kops had done in her last place, but found life in a one-bedroom too difficult.
“The kids are getting older and I needed more space myself. I don’t like sleeping in the living room.”
The new place is on the main floor and she often hears the conversations of the maintenance employees whose lounge is below her apartment, but that’s her only gripe.
“We hear their morning roll call and we can hear them yelling at each other,” said Kops, “but we overlook a garden area. It’s actually very quiet and peaceful.”

Maurice Owen-Michaane (right) and his husband Michael got a $13,000 payout.

Maurice Owen-Michaane (right) and his husband Michael got a $13,000 payout.

Former resident Maurice Owen-Michaane, who lived in Stuy Town for five years until September, 2012, said it wasn’t “Roberts” that changed things for him or his family, but other factors like constant construction that made him think the complex was going downhill and more importantly needing more space after having a baby.
So he moved to Washington Heights where he now lives with his husband and son, and apparently, many other families nearby.
“There are lots of families and kids and strollers,” he said. “It’s nice up here.”
This week, Owen-Michaane went straight to the bank after receiving his $13,000 in damages, which, he said, will be used to send his son to pre-school and pay some of the couple’s student loans, which total $200,000.
“We’re not going on some big vacation,” he said.
Additionally, out of the damages, $1,600 was taken out for retroactive MCI fees. Not having known about that, Owen-Michaane felt that a heads up from the attorneys or tenant leaders “would have been nice.”
Owen-Michaane, who works in real estate sales for the firm Maz Group NY, added, “No one told us anything.”
That said, overall, Owen-Michaane said the suit was definitely still a win for tenants.
“It was a victory for the little guy, the middle class, who usually get forgotten,” he said.

“Roberts” tenant Jill Pratzon, who owns an art restoration business, said after getting her check, she felt misled about the entire lawsuit.
Pratzon, who moved into Stuy Town with her son and husband, a high school teacher, towards the end of the Met Life era, said due to “Roberts,” she got a $90 rent reduction. This brought down the rent for her one-bedroom apartment on Avenue C to just over $3,000. In damages, after deductions, she and her husband each got checks for $37.50.
“I feel like a fool for staying,” said Pratzon, who got a $500 increase at the time of their first renewal when Tishman Speyer took over the property. The couple’ son had just come home from brain surgery, and they asked management to consider not increasing their rent. In response, it was lowered to a $400 increase. Pratzon said she was told at the time that the owner was planting a lot of trees and that she’d love living there because it would be like the Garden of Eden.
“I come home after dark,” she said. “I don’t have time to enjoy the f—ing greenery.”
When Pratzon moved in it was because the building had an elevator and her son was in a wheelchair. “Then he was out and this lawsuit happened and I thought it was going to mean something,” said Pratzon.
Pratzon, who’s 52, said she’s recently begun taking on more clients, working longer hours, six days a week. Now she and her husband are the oldest people on their floor. People in two other apartments moved out this week.
“Everyone is young and coming and going,” she said. “We introduce ourselves and then a few months later, they’re moving out. They’re professionals or about to be young professionals. I’ve got no grievances with them. It’s management.”
Pratzon also pointed out that in order to afford the rent, her family has no savings.
“We’re hanging on with our fingernails. I felt for years that New York doesn’t want us, me with my small business and my husband who helps at-risk kids in Brooklyn.”

Jill Campbell at her new apartment in Williamsburg

Jill Campbell at her new apartment in Williamsburg

Jill Campbell, a documentary maker, moved into Stuyvesant Town in 2008. The following year, with the “Roberts” case being won by tenants, she was attending tenant meetings and hearing about how the apartments were re-regulated and later, about the Tenants Association’s hope of going condo. At one point, she recalled her rent going down slightly as a result of the case, but just last month, after the most recent increase, she felt she couldn’t afford it anymore. And this was after haggling and getting a significant amount shaved off the bill. Campbell asked that the amount of her rent and what she received in damages not be published. However, she noted that due to legal fees, the damages were less than what she thought she’d be getting.
Overall, Campbell, who now lives in Williamsburg, said she doesn’t feel like the lawsuit impacted her, other than if she hadn’t gotten her hopes up for lower rent similar to what those in unrenovated units were paying, she would have moved out sooner.
But that wasn’t the only reason for leaving.
“It felt like we were living in a dorm,” she said. “Especially on weekends when they would leave pizza boxes scattered on the hallway floors.  The door badge system particularly felt like an invasion of privacy as I had to register any guest that I wanted to provide a key for. The price tag was way to high to live in a dorm. All the ‘Roberts’ expectations and the town meetings surrounding the case did was to raise false expectations that my rent would be lower and that one day I might buy the place at an inside price. When both of those did not materialize we had no choice but to leave.”
While she doesn’t feel the suit did much for “Roberts” tenants, Campbell said she believes it did help the older residents in that it stopped the wave of primary residence challenges aimed at getting them out.
“I think it was good for the old-timers who now have peace of mind,” she said.

Software writer Nick Furness, a resident since 2001, said he first lived in Stuyvesant Town in a two-bedroom, then moved into a one-bedroom in 2003 when the rent got higher than he could afford. He and his wife, a handbag designer, were okay until the rent there got to be around $3500. They then started looking around at other places and though they found other places in the East Village that were slightly cheaper, “they were horrible.” Plus, Stuy Town rent at least included utilities and the large windows offered a lot of light.
After the market crashed, in 2008 or 2009, Furness said he was able to negotiate a significantly lower rent. He wasn’t aware of the “Roberts” litigation at the time and now wonders if it was the reason he was able to get Tishman Speyer to agree to reduce his rent to around $2600. Since then it’s been slowly “creeping back up,” said Furness and he now pays a little over $3,000.
“We’re happy to pay it because it’s the going rate for apartments in this neighborhood.”
In damages, the Furnesses were due $17,000. After fees, the amount was around $11,000. He was a bit surprised by the amount, admitting he hadn’t read all the fine print of the settlement. “It’s like how no one ever reads the iTunes contract.”
At the end of the day, while Furness said he wished attorneys had done more to protect tenants from high fees, he believes he’s better off with a rent regulated home.
“With the rules in place,” said Furness, “I feel happier staying here than I would being in the free market. When the market went up stupidly, our rent went up 30 to 40 percent. That would have been hard to bear.”

Many ‘Roberts’ tenants getting less money than expected

Alex Schmidt

Alex Schmidt

By Sabina Mollot
Many current and former residents of Stuyvesant Town/Peter Cooper Village who are members of the “Roberts v. Tishman Speyer” class action are getting less in damages than they were expecting.
Specifically, over 5,000 of them have had non-payment deductions taken out of their damages, as well as close to a third taken out for legal fees and expenses, and in some cases, with money also taken out for retroactive MCIs.

On Thursday, June 12, the overcharge payments from CWCapital were sent out, and those who received non-payment deductions will have 45 days to dispute those charges.
Tenants’ “Roberts” attorney Alex Schmidt said he plans to challenge the “NPD” claims for tenants who don’t think they’re accurate.
As for the reasons tenants got the non-payment deductions, he said he didn’t know since CW wouldn’t provide that information.
“We don’t have access to underlying evidence, so people who believe they’re wrong have to contact us,” said Schmidt.

However, out of the 5,000 non-payment deductions, more than half are for amounts under $100. Those cases may have been attributed to things like late fees or lost key charges, Schmidt guessed. “Collectively those things add up,” he said. “It’s up to the tenant if they feel $25, $50 or $100 is worth fighting for.”
A spokesperson for CWCapital declined to comment on the deductions.As for the major capital improvements (MCIs), it was former tenants who’ve been hit with those since the recent MCI settlement between CWCapital and the Tenants Association only includes reductions or eliminations of fees for current tenants.
“It doesn’t do anything for the former tenants,” noted Schmidt.

One former resident, Steven Zecca, commented on the Town & Village Blog about how he received a rather hefty MCI deduction.
“I received my check on Saturday, June 14th,” he said, “along with a third cut from the original damages amount, a non-payment deduction for back rent of $118 and over $1500 for retroactive MCIs…Stuytown resident from May 2010 through August 2013… Anyone have any idea how these retroactive MCIs work and what I was charged for?”

Schmidt said that attorneys investigated and learned that the law does permit CW to charge retroactive MCIs to former tenants.

Out of a $173 million settlement for tenants in apartments that were illegally deregulated by former owners Met Life and Tishman Speyer, $68.75 million is being paid out to tenants. The rest of the money is in the form of rent savings. “Roberts” tenants and former tenants who were owed money from when Met Life was the owner of Stuyvesant Town/Peter Cooper Village were paid at the end of 2013.
Damages range per person with some getting a minimal payout of $150 and others getting thousands.
The payments are being made from different pools out of the $68.75 million, with the pool of former tenants owed money by CW being the biggest. Schmidt has said tenants could expect to see 100 percent of what they overpaid as calculated by the settlement formula minus legal fees (around 30 percent).

In response to receiving a number of complaints from confused tenants, Council Member Dan Garodnick said he’d asked Schmidt’s firm, Wolf Haldenstein, to send tenants “a complete explanation to address these issues” and soon. And, he added, the firm has agreed.
“It’s apparent that a significant number of people got a deduction that didn’t expect it,” said Garodnick, “and they deserve clarification on what’s going on.”

Correction: The article was changed to reflect the fact that the pool of former tenants is the biggest, not the current tenants, and current tenants could see up to 100 percent of their damages.

MCI settlement was best possible deal for tenants, TA attorney says

Tenants Association attorney Tim Collins at a meeting on Saturday (Photo by Sabina Mollot)

Tenants Association attorney Tim Collins at a meeting on Saturday (Photo by Sabina Mollot)

By Sabina Mollot
On the heels of the MCI settlement between CWCapital and the ST-PCV Tenants Association, around 250 tenants attended a meeting on Saturday to learn more about what the deal meant for them.
As usual almost all in attendance at the TA meeting, held at the Simon Baruch Middle School, were seniors. A bunch came armed with questions regarding the MCIs as well as quality of life and general affordability issues. However, those with unique circumstances were herded into another room at the school where there were tables to set up to help people understand the figures on their leases and with other problems.
Meanwhile, Tim Collins, the attorney for the ST-PCV Tenants Association addressed the crowd. First, he responded to some “grumbling” the deal has gotten since for most non-“Roberts” tenants, there’s only five percent removed from their monthly payments. Collins argued that as with any settlement, “you have to make deals. You have to trade something.” “Roberts” tenants wound up getting the higher reductions or full eliminations of the monthly payments because, said Collins, “they’re already paying very high rents.”
As a result of the deal, all tenants have had the retroactive portion of their MCIs (major capital improvements) eliminated. As for the monthly or permanent portion, “Roberts” tenants paying the full legal rent get a 5 percent credit. “Roberts’ tenants paying either the maximum modified legal rent or the maximum “Roberts” preferential rent get a 50 percent credit (as determined by the class action settlement). “Roberts” tenants paying less than the modified legal rent or “Roberts” preferential rent get a credit of 100 percent.
SCRIE/DRIE tenants are also exempt from having to pay the MCIs at all.
Non-“Roberts” tenants paying the full legal rent get a 5 percent credit. Non-“Roberts” tenants paying less than the full legal rent get a credit of 100 percent.  The credits are retroactive to January of this year and appear as two separate credits on tenants’ rent bill from May (one for May, one for the other four months).
While discussing the settlement, Collins tried to discourage residents from filing individual PARs (petitions for administrative review) since that could unravel the settlement for all tenants, a clause CW insisted on. Those hoping to score a better deal, warned Collins, would have less standing as individuals with the Division of Housing and Community Renewal (DHCR) than a coalition like the TA has. He also pointed out that the TA had been at work for months in the hope of getting the best possible deal.
“I think we accomplished that,” said Collins.
He also shared with tenants that the settlement almost didn’t happen, with the talks breaking down twice. He declined to explain why, but admitted he wasn’t happy about having to agree that tenants would have to give up the option to file PARs.
But in trying to see it from the owner’s side, Collins said, “They wanted there to be finality. They wanted to have peace. They don’t want to fight 500 or 1,000 PARs that disrupt the deal.”
The deal does however make exceptions for tenants who want to file a PAR in unusual circumstances, such as the room count of their apartments being incorrect, since MCI costs vary based on the number of rooms in a unit.
Collins also reminded tenants that even before the negotiations, the TA had managed to convince the DHCR to knock 23 percent off the amount then-owner Tishman Speyer asked for in 2009. The challenge that followed came about after tenants received notices of the approved MCIs last fall and Collins saw that none of his arguments made in 2012 against the improvements, such as shoddy workmanship, had been considered.
The attorney also echoed the sentiment often made by local politicians that MCIs are not just a problem for tenants in Stuy Town, but a result of a law that favors landlords by allowing them to charge in perpetuity for building improvements.
“The main problem is in Albany,” he said.

Collins’ advice: Sign a one-year lease, not two.
Collins concluded his talk by urging tenants who have lease renewals coming up before October to take a one-year lease rather than a two-year one.
The reason, said Collins, who served as the executive director/counsel for the Rent Guidelines Board from 1987-1994, is that the RGB is expected to vote for a lower increase this year than what was handed down in previous years. Even a rent freeze is possible based on the preliminary vote last week. However, the increase voted on won’t go into effect until October.
Collins added that in recent years, the board’s increases amount to “nothing less than a scandal.”
The reason, he said, is that arguments made in support of owners involved projected operating cost increases that were much higher than what they actually turned out to be. At the same time, household incomes were dropping. Collins admitted that when he worked for the board, he took a somewhat hands-off approach, telling its members, “It’s not your job to make every apartment affordable or every building profitable for owners.” But over time, he started to feel like landlords were being given too much and advised the board to implement a rent freeze.
“This year I’m asking for a rollback,” he added.
Following his comments, TA President John Marsh chimed in to say Collins was speaking for himself and not on behalf of the TA, since what kind of lease to sign is always a gamble.
Council Member Dan Garodnick also spoke about the RGB, to recommend that tenants to participate in this year’s vote process by speaking at public hearings about their MCIs. With a new chair and new mayor, Garodnick pointed out that tenants have a better shot at swaying the board this year than they’ve had in the last 20 years. “I would encourage you to make your voices heard,” he said. “It’s quite an opportunity for tenants in this city.”
(Editor’s note: In a recent editorial, T&V also recommended that tenants tell the RGB about their MCIs, in the hope that hearing about unexpected increases tenants are made to pay mid-lease will have an impact on the board’s decision on the annual increase.)
The next public hearing in Manhattan takes place on June 16 at the Emigrant Savings Bank at 49-51 Chambers Street from 2-6 p.m.

ST-PCV Tenants Association President John Marsh speaking at a Tenants Association meeting on Saturday, with Assemblyman Brian Kavanagh, Comptroller Scott Stringer, State Senator Brad Hoylman and Council Member Dan Garodnick (Photo by Sabina Mollot)

ST-PCV Tenants Association President John Marsh speaking at a Tenants Association meeting on Saturday, with Assemblyman Brian Kavanagh, Comptroller Scott Stringer, State Senator Brad Hoylman and Council Member Dan Garodnick (Photo by Sabina Mollot)

Support for tenant-led purchase of ST/PCV
Another issue discussed at the meeting was the future sale of ST/PCV, with Garodnick saying a tenant-led deal has the support of the city’s housing commissioner.
Later, he told Town & Village that along with HPD (Department of Housing Preservation and Development) Commissioner Vicki Been, he’d also spoken with the deputy mayor for economic development, Alicia Glen.
“My sense from them was that they wanted to find a way to be supportive of tenants in our initiative if they can,” he said.
On the other hand, CWCapital has remained unwilling to talk business.
“Not just with us but with anybody,” Garodnick said at the meeting. “We all suspect that a sale is somewhere on the horizon, but we’re not sure when.”
(Three days after the meeting, the plan to foreclose on the Stuy Town’s mezzanine was made public.)

Tenants at the meeting at Simon Baruch Middle School (Photo by Sabina Mollot)

Tenants at the meeting at Simon Baruch Middle School (Photo by Sabina Mollot)

Why tenants are pretty much doomed thanks to Albany and City Hall
As always, there was also much depressing talk about the politics governing rent laws at the event. Local elected officials took turns at the podium explaining why tenant-friendly bills never get anywhere.
State Senator Brad Hoylman reiterated a point he’s made before, saying that until there’s campaign finance reform, the State Senate, which is controlled by Republicans, will remain a place that’s more friendly to landlords than tenants. He noted that many of the Republicans get millions in campaign contributions from real estate interests and also often live in upstate districts where there are few renters. The Olean, NY-based Cathy Young, who chairs the Senate Standing Committee on Housing, Construction and Community Development, has blocked campaign finance reform from even being discussed on the Senate floor, Hoylman said. This, he explained, is why Senate members have been reduced to arguing about yogurt.
“Her district is closer to Detroit than Manhattan,” said Hoylman of Young, who’s also legislatively tried to undo “Roberts v. Tishman Speyer.” “We need to continue to fight for campaign finance reform,” Hoylman added. “It is fundamental to changing the power dynamic in Albany.”
Assemblyman Brian Kavanagh then spoke about how the state housing agency’s new Tenants Protection Unit was in danger of being de-funded by the State Senate.
Also at the meeting was Comptroller Scott Stringer who said that the mayor’s housing plan aimed at building or preserving 200,000 units of affordable housing won’t be enough to make up for the amount of affordable units that are getting lost each year. In the last 12 years,
Stringer said, “rent have skyrocketed by 75 percent,” while in the past 16 years, 400,000 apartments that rented for $1,000 or less disappeared. “Two hundred thousand (units), it’s just not enough to deal with the crisis,” Stringer said.