I wonder who will get the last laugh?

Will it be the landlords who wind up with fat pockets, or will it wind up being tenants who pay what would have been paid by long time residents had the property not moved out of rent stabilization.

It may be that the very ordinariness of Stuyvesant Town and Peter Cooper Village allayed the suspicions of normally alert housing advocates that the owners would take these developments out of rent stabilization. These may be excellent moderate-income projects, but they are far from elegant. A young lawyer, Eric Lipman, who moved into Peter Cooper Village last March, says, “They’re advertising luxury apartments when there’s nothing luxurious about them. No doorman. No gym. No amenities. They put in new fixtures, but nothing super-fancy. Just GE - works fine, but that's it.”