Comment Policy

All comments to posts have to await approval. Approval does not happen immediately. NOTE: Comments reflect the opinions of the person writing them and should not be assumed to reflect the opinion of the blog.

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. Things like the carpet rule or outsider dogs. These "rules" tend to be ignored, on purpose it seems. 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.

At this point, 30 years into living here and seeing many things, I can state that Management and their reps are BS-ing us. I can't say that loudly enough: We are being BS-ed. I don't see any genuine change, though the "selling" of this place is intense. Few of the "rules" will be enforced, as Management doesn't want to lose customers or potential customers. Where personal integrity is a hallmark of an excellent management style, this integrity is not seen in enforcing some of the rules.

About those "club cars" we see going this way and that way, and outside of Stuy Town or Peter Cooper Village:

Meanwhile: Freedom of Information:

Monday, January 4, 2010

Tricky Bastards

Well, well, well. So Tishman Speyer has offered a select group of current rent stabilized tenants the opportunity to acquire apartments that are well below market rate. Meaning, even the old pre-J51 lawsuit RS tenants can get in on a "deal" that may look financially advantageous.

Not so fast, says the Tenants Association:

ALERT: There’s a Catch to the 100 Vacant Apartments Offer
The Catch for Traditional Rent-Stabilized Tenants

Tishman Speyer ("TS") recently announced that it will begin leasing approximately 100 vacant apartments to those who asked to be placed on a waiting list following the Court of Appeals decision in the J-51 case. Each of these 100 apartments is rent stabilized only until the expiration of the J-51 abatement period. Tenants who receive an offer and are tempted to accept should carefully consider the consequences, even though some of these 100 apartments will be offered at substantially below market rate.

A tenant whose apartment was stabilized prior to the recent J-51 court decision and who accepts an offer for one of these 100 apartments will be moving from a fully protected traditional rent-stabilized apartment into one whose rent-stabilized status will expire at the end of the term of the J-51 tax benefit period.
The Catch for Tenants Newly Rent-Stabilized, Formerly Market Rate

Those tenants who held market rate leases prior to the Court decision should also carefully consider the consequences of accepting an offer for one of the 100 apartments. Pursuant to J-51 regulations, the lease for an apartment that is rent stabilized as a result of the landlord having a J-51 abatement will remain rent stabilized for the life of the current tenancy unless the lease contains a J-51 clause. The J-51 clause is language required by the J-51 regulations that specifically advises the tenant that the apartment is rent stabilized pursuant to J-51 and that, upon expiration of the J-51 benefit period, it will return to market rate status.

Many current market rate leases do not contain the required language. An open legal issue in the J-51 litigation is whether the landlord can "cure" this defect by adding the required language to the lease. Your Tenants Association believes that the law does not allow the landlord to correct this defect. If the Courts agree with this position, the rent stabilized status of a formerly market rate-tenant whose current lease does not contain the J-51 clause, will be protected should the landlord seek to return that apartment to market rate when the J-51 period expires. If you accept one of the 100 apartments, which will surely contain the necessary clause in the lease, you will forfeit that privilege.

So, what'd you think? Jerry and Rob Speyer were Santa Claus this year?


Anonymous said...

These guys are pure sleaze.

Anonymous said...

As slimy and slippery as a bucket of owl shit!

Anonymous said...

Is it just me or does Jerry look like he's about to say "somebody pull my finger!"

Anonymous said...

Default tomorrow 1/8/10.