Penn South
Remarkably, Penn South's shareholders have consistently voted against "going private," although if they gave themselves the right to sell their apartments on the open market, they certainly would be able to get very high prices for them. Instead, they've decided to give others the same opportunity for affordable middle-income housing that they had.
Penn South's decision shouldn't be surprising, because it is known for its political liberalism - one gets the feeling that the complex is a mini-Blue State unto itself. Many of the early residents were members of the ILGWU (International Ladies' Garment Workers' Union, the complex's original sponsor) and other unions. On the dais at the complex's opening ceremonies in 1962 were President John F. Kennedy, Eleanor Roosevelt and David Dubinsky, head of the ILGWU. As a matter of fact, Penn South (meaning "south of Penn Station") was known at first as the ILGWU Houses.
Penn South
Remarkably, Penn South's shareholders have consistently voted against "going private," although if they gave themselves the right to sell their apartments on the open market, they certainly would be able to get very high prices for them. Instead, they've decided to give others the same opportunity for affordable middle-income housing that they had.
Penn South's decision shouldn't be surprising, because it is known for its political liberalism - one gets the feeling that the complex is a mini-Blue State unto itself. Many of the early residents were members of the ILGWU (International Ladies' Garment Workers' Union, the complex's original sponsor) and other unions. On the dais at the complex's opening ceremonies in 1962 were President John F. Kennedy, Eleanor Roosevelt and David Dubinsky, head of the ILGWU. As a matter of fact, Penn South (meaning "south of Penn Station") was known at first as the ILGWU Houses.