Tim
Tim and I meet at a diner on Clark Street in Brooklyn and head north, crossing the Brooklyn Bridge then Canal Street and China Town before settling for lunch in the Lower East Side. The weather torrential and I am soon soaked - my umbrella useless in the wind and my down jacket worse. We observe Stuyvesant Town - one of the most successful post-war private housing communities in America - which was bought by Tishman Speyer for $5.4 billion in 2007 - at market's peak. A tenant-sponsor offer was rejected BTW. The dough boys bet on the fly boys leaving, by will or by force, taking their "rent control" with them. Everybody sued and today, by coincidence, Tishman gave up the ghost by handing Stuyvesant to the creditors and avoiding bankruptcy.