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At this point, Management has two priorities: 1) Making sure money is made, hence upgrading and filling up apartments is their goal. "Amenities" are important in selling the place, though few residents use them. 2) If someone needs medical attention, Public Safety will be there, if alerted.

Quality of life issues are not that important, however. They tend to be ignored, despite "the rules." So you will see a lot that isn't taken care of properly, and complaints will be met with a creative excuse and a smile.

"Peace and quiet" must be a cruel joke, though this property is sold that way. There can be no peace and quiet as ALL apartments must be upgraded, which includes the installation of an AC unit below the window. Aside from the continual construction about the neighborhood, there is a new and noisy subway extension being built along East 14 st and the shut down of the L line. "Choosing" to live in NYC, now the newest mantra, is a fabrication when the talk is of ST and PCV, which was traditionally quiet, with no construction noise.

Though money was always important, it is now more important than ever. Money rules many things, as you will find.

Wednesday, September 30, 2009

China Has Officially Taken Over New York



Okay, Mayor Mike, what did you know about this and when did you know it?

8 comments:

Anonymous said...

The Mayor for Life will need Chinese capital to carry out his vision for New York. Forget the millions who have died under Communist Chinese rule, forget Tibet, forget the current repression in China. Let's celebrate!

Anonymous said...

Wasn't there a rumor a few months back that Tishman Speyer had made a deal with the Chinese to invest in Stuy Town or buy it outright?

Stuy Town Reporter said...

Apparently disproven, but the future will tell!

I felt embarrassed to be a New Yorker the other day. A humiliation for us all.

Anonymous said...

Actually , STR, not disproven ,just denied by the flacks for TS. Source of story stood by it despite denials. Who knows, if TS wins Roberts case (heaven forbid) they might convince the Chinese to invest. They have done at least one deal in China so there is a relationship.

Anonymous said...

Don't sharpen up your chopsticks just yet. Mezzanine and possibly First Mortgage bondholders are going to demand an equity stake in the venture due to the impairment of their interests. No equity investor would commit capital to this project at this point because the cash flows simply can't support the debt structure and their equity will be eroded just like the initial investors.

This is going to go through a painful reorganization process which will wipe out the interest of TS & the other investors before any new capital is committed.

Anonymous said...

I wonder if we will get any heat this winter. I am terrified that we are going to be in a situation where we have no heat, hot water or even elevator service because everything seems to be going to rot. My building is cold and filthy and crawling with roaches. The elevators creak ominously and I wonder if they are going to make it every time I get on. Being stuck between floors is something I dread, especially as there is probably no one to receive an alarm call.

Anonymous said...

Those are great links you have posted to the articles about TS's financial woes! Thank you. I bet Jerry is wishing he'd packed Robbie off to live with his mother instead of taking him into the family business! Greed begets greed and the consequences of it spread like a cancer and hurt so many innocent people. I don't know how those two avaricious buggers sleep at night.

Anonymous said...

If we are going to light up the ESB to honor the oppressive Chinese regime, then I think we should light it up to honor the Iranian government, the North Korean government and how about those lovely people who rule over Sudan? Cuba? Let's light it up for Castro! Fair's fair after all. The money hungry bastards who manage the ESB would probably have lit it up to honor Hitler if paid enough.