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A Deal to Help Make New York Affordable for Renters

Jan 11 2016

Susan Steinberg moved into a one-bedroom apartment in New York City’s Stuyvesant Town-Peter Cooper Village residential development 35 years ago. She’s been there ever since.

“It’s a special place,” she says, calling life in the landscaped 80-acre, 11,241-unit residential community at the edge of Manhattan’s East Village like “suburban living in the city.”

“I hear birds. I see squirrels. We actually had a resident hawk for a while,” she says. “Living in Manhattan, unless I won the lottery and had my own building, this is really the place to be. It’s just a wonderful experience.”

That wonderful experience has had its fair share of upheavals in recent years, adds Steinberg, who is president of the Stuyvesant Town-Peter Cooper Village Tenants Association. Built in 1947 by insurance company Metropolitan Life to provide New Yorkers with middle-class housing, Stuyvesant Town, or ST-PCV, has in recent years passed through a series of sales and defaults that have at times threatened to undermine its bucolic, affordable nature.

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