BBG News

Sherwin Belkin Voices Concerns Amid Stuy Town’s Rent Stabilization Victory

Feb 27, 2024

Sherwin Belkin, a Co-Founding Partner of BBG, was featured by Our Town in the article titled “Tenants Celebrate As Over 11,000 Apartment Units Will Remain Rent Stabilized in Stuy Town.”

The article covers the decision to keep over 11,000 apartments in Manhattan’s Stuyvesant Town-Peter Cooper Village rent-stabilized after Blackstone Group, the owner, chose not to appeal a tenant-favoring court ruling.

However, Sherwin indicated, “One problem with the Housing Stability and Tenant Protection Act (HSTPA) is that it provides protection to higher-income tenants who do not need it. In doing so, it discourages investment in the much-needed housing supply, undermining the purpose of the law. My firm intends to continue to challenge this statutory regime in other cases not involving StuyTown that are working their way through the courts.”

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