Stuy Town Renters Fight for Their Homes

On Monday, lenders foreclosed on one of the biggest apartment complexes in the country, seizing the 11,000 apartments at Stuyvesant Town and Peter Cooper Village from real estate giants Tishman Speyer and BlackRock, Inc., who failed to make their monthly mortgage payments.

Where does that leave the people who live there?

They are trying to buy the complex, according to a recent New York Times story. Whether they succeed or fail, Stuy Town's fate will provide an omen for people living in more than 100 other New York apartment buildings facing foreclosure.