"None of the Affordable Units will be used by Purchaser on a transient basis or as a hotel, motel, hospital, nursing home, sanitarium, rest home or trailer park."
And one point to reiterate, as The Real Deal summarizes:
Under the agreement, Blackstone can likely reduce the number of affordable units from 5,000 to almost zero between 2035 and 2040.
Blackstone signed a contract last month to buy the 11,000-apartment complex for $5.3 billion in partnership with Canadian pension fund manager Ivanhoe Cambridge.
You can find the PDF of the term sheet here.
Previously on EV Grieve:
Local politicos seek answers from the Blackstone Group on the Stuy Town air rights deal