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NOTE: Comments reflect the opinions of the person writing them and should not be assumed to reflect the opinion of the blog. Because of the anonymous nature of the commentary, specific agendas can be pushed by a sole individual and may not reflect a more popular belief by the residents of this community.

Friday, December 23, 2011

Holiday Wishes



Merry Christmas, Happy Chanukah, and Happy Holidays!

(Your ST or PCV apartment can look like that, too...with a few modifications!)


STR

76 comments:

Anonymous said...

Have a great holiday season STR. Thanks for working so hard to help the residents of ST/PCV.

And Merry Christmas, Happy Chanukah and a Happy New Year to everyone. Let's hope that the new year brings positive change for the better, for all of us.

Anonymous said...

Wishing you a Happy and Healthy Holiday and New Year, STR.

Keep up the good work, please. You are greatly appreciated.

Anonymous said...

To STR: Thanks for being the brave one. You are amazing.

Merry Christmas

Anonymous said...

I think our best shot at a white christmas this year is the inevitable backup of the mack gray machines spewing white suds throughout the basement. I plan to bring the kiddies down to see it so they will always have happy memories to share...even if their clothes don't get clean. ;)

Anonymous said...

Happy Chanukah and
Happy New Year!
to Rob Speyer and his Dad.

Anonymous said...

"Happy Chanukah and
Happy New Year!
to Rob Speyer and his Dad."

You have got to be kidding! Miserable New Year and may the Blue Bird of Happiness fly right up your noses to Rob Speyer and his Dad!

Anonymous said...

Thanks you so much for your STR. Happy Holidays.

Fed Up Tenant said...

Ditto, ditto, ditto, STR!

Anonymous said...

Tell me what to do. OUr hallways STINK. CIGARS, CIGARETTES and ?

Complaints to Rose do not help. DISGUSTING here / PCV

Anonymous said...

Does anyone have any knowledge of any other bidders on this place we call home? If Sty/pcv is such a deal (as the TA board wants us to belive), why is there no other real esate moguls beating down the doors of CW to get their hands on this "Cash Cow"?
If the TA plans go through, this will be the biggest real-estate debacle since Tishman bought this pig and decided to put lip-stick on it.

FEDUPINST said...

There are and will be other bidders. And in all likelihood, C.W will not accept the bid from the TA.

Why would they?

Anonymous said...

There aren't any other bidders because no one asked for bids. That's why this entire thing is nothing more than a political campaign move by Garodnick. Nothing more and nothing less.

Anonymous said...

Wha? as in, he's getting more suppoters due eto this ?

Why would that make us vote for him?

Anonymous said...

Feckiless Dan Strikes again!

Anonymous said...

The TA board and Feckless Dan are smelling worse then Coney Island at low tide!

Anonymous said...

I'm sure the Brookfield CEO, who used to run CW, and all the other ivy trained lawyers and accountants have nothing better to do than waste time on a deal that has no chance...

Anonymous said...

On a positive note-

Toilet backed up during the night, called Security shortly after 6 AM. Said we would get a call back from Maintenance. Within 5 mins., someone phoned and said a handyman was on his way. Problem resolved in under a half hour.

Thank you Maintenance Dept.!!!

Anonymous said...

to: December 25, 2011 6:49 PM

>>>"I'm sure the Brookfield CEO, who used to run CW, and all the other ivy trained lawyers and accountants have nothing better to do than waste time on a deal that has no chance..."<<<

Do you think Tishman ever thought for one moment that; instead of getting rid of the old tenants, it was going to be the tenants who got rid of them!
How many “ivy trained lawyers and accountants” do you think they had?, and they were all WRONG!

Yes Anonymous (December 25, 2011 6:49 PM), there are bad business/investments decisions that are made every day. How many deals/investments do you read and hear about where people are interviewed and they say "We were told it was a sure thing", "no way can you lose"? Only to find their life savings are gone along with any choices they have for their future. Its people who never question what they are told, "lemmings" that line up and willing to walk off a cliff one by one following their leaders (board members)to financial ruin.
It's your financial future, ask questions, demand answers, demand that all negotiations are transparent. Don't enter some deal, because someone else tells you it's a "bargin", "deal of the century", or that "you can't lose"! Be responsible, you owe it to yourself and family.
DUE DILLERGENCE IS KEY! Caveat Emptor, buyer beware!

To: to: December 25, 2011 6:49 PM
It’s statements and beliefs like yours, that lands people on 60 Minutes saying “Our Life Savings are gone!”

Anonymous said...

Much like the TS lawyers who do same.

Anonymous said...

Transparency and straight talk has never been the forte of the TA. I don't trust them and I don't trust Dan Garodnick. This whole think stinks of self-serving insider manipulations.

Anonymous said...

Um, sorry, but isn't that what ivy league lawyers do? ALL DAYYY LONGGGGGG

Anonymous said...

Thank you, STR. You are most appreciated.

As to whether there are other offers, there could be and we wouldn't necessarily know about them. Also remember that the rents of the formerly deregulated apartments haven't yet been determined. That's been the major obstacle to moving forward.

Anonymous said...

What's troubling about all this is that the flow of information about all the proposals has been greatly filtered by the TA. The most important single fact to know is that in order for any plan to move forward, by law at least 15% of the tenants must indicate willingness to by at the given price. This means that the tenants' only real power that is truly meaningful is the ability to influence or even control the vote.

Consider...the more the price is adjusted to keep the percentage of buyers at or close to 15%, the more money a company likely Brookfield makes as the rental apartments become vacant over time.

So Brookfield is likely to come with a buying price of 450K. This means that when everything is eventually sold, Brookfield will gross a little over 8 billion dollars. The Guterman plan specifies a price of about 315K per apartment. Many more tenants will purchase at this price. So the Guterman plan will gross a little under 7 billion.

Maybe there are some downsides to Guterman. My main point is all the tenants should have access to all the information rather than the TA executive board not using its offices to disseminate all the information.

Anonymous said...

I have to agree with the comment about Garodnick working everything like a political campaign. This is a very insightful comment. Please bear in mind...Garodnick used to work for the law firm advising the TA, Paul, Weiss... Brookfield is a major member of the National Association of Real Estate Trusts...one of the major contributors to Schumer. All of this needs to be watched very closely. The last thing these guys want is for all the proposals and all the information to be transparent. And there are other proposals...definitely!

But as mentioned before...the only power the tenants have is controlling or influencing the vote for likely to buy among the tenants. Without the necessary 15% positive response, no proposal can legally go into effect. Please spread the word about this. People need to know...they definitely do have power...but it's only enabled through organization & communication.

Anonymous said...

Apparently only the longterm residents will have the decent sale price. The recent tenants with renovated apartments will have the option to buy at over 500,000.

Not a deal for the 30% who were signing on.

Anonymous said...

I think the guy who posted earlier is right about tenants being Lemmings.
I am afraid most of the tenants are too lazy and apathetic to do their own homework.
It's just easier for The Lemmings to believe what is spoon feed to them by the TA.
Most of the tenants here want to be treated like mushrooms, kept in the dark and feed shit!
If this is truly the case they will get what they deserve, RIPPED OFF and taken to the cleaners.

Anonymous said...

I, personally, have no interest whatsoever in buying my apartment. However, I think that those who are interested in buying should do a LOT of research first. Remember, this place is held together with spit in some places because of the shoddy maintenance and patching up done over the years by MetLife; it's built on a toxic waste dump and the plumbing could have been put in by people who didn't have enough material (such as copper) to do a really good job. Good luck to those who choose to buy, but BUYER BEWARE because this place is not as solid as it looks. They didn't even have the material to float the floors which is why we have such a problem with the new tenants disregard for noise mderation. The TA, Garodnick and Schumer are a bunch of schnorers so be very wary of them.

Anonymous said...

When the numbers come out, they may mot even get the 15% they need. Prices are going to be higher than most expect so it is only going to appeal to the "market rate" tenants that will actually save a bit each month by buying in.

Of course, the "affordable rate" sales are only meant to help them get to the 15% they need to make the deal go through.

Then, "PRESTO!." Brookfield becomes the new TS, CW, Rose or whatever. Now they own the place and they carry on just like the others have for the past six years.

The conversion plan is just a scam to help them buy the place with the unwitting blessing of the tenants. Not with my blessing...

Anonymous said...

Sure do wish RA would pay as much attention to our hallways, filthy stairwells, disgusting laundry rooms as they do to the few leaves outside.

Hours of nonstop leaf blowing, barely any leaves. As well as 5 to 6 guys needed to plant a few shrubs. Really Adam? REALLY?

clean the interiors. duh

Stuy Town Reporter said...

I think getting 15% of tenants interested in going condo will be easy. I'm disappointed at the low percentage required, which needs some investigation, going back years.

Anonymous said...

I saw one of the "maintenance" guys going round with a pointed stick (for want of knowing the real name!) and a cart harpooning plastic bags and garbage on the 14th Street Loop. Problem was, he only picked up the garbage that was right at the edge of the "garden," but didn't bother walking a few steps to get the stuff that had blow in closer to the buildings. What a waste. This guy shouldn't be getting paid for doing such a crappy job.

TIREDOFTHEBSHERE said...

Yes. ita. I inquired to everyone here we know (been here 11 years) They all want in.


No one trusts the landlords and no one trusts RS.

Anonymous said...

I feel that the Tenants' Association has completely broken faith with the tenants and I wish I had not subscribed to membership all these years. They have done little to nothing about the quality of life violations here. All they seem interested in is becoming property owners. They just do not represent the tenants any more. Maybe they never did because apart from getting us a couple of dollars back on some of the more egregious MCIs, I can't think of anything else they've done. The Association is run like a smokey backroom deal dive (though probably minus the smoke) and they are as obtuse and devious as any politicians who do business in the proverbial smokey back rooms. I am very disappointed in them. I am a long term tenant whose quality of life has gone down the toilet since the apartment downstairs from me became a dorm/whorehouse (I kid you not) and I have no intention whatsoever of buying my apartment. The TA used to claim to be in favor of rent stabilization and affordable housing, but I am beginning to see that they are a bunch of liars and as for Garodnick, well he is just another sleazy, self-serving politician who I will never, ever again vote for no matter who his opponent is.

Rich said...

What I really love about many recent posts involves the necessity for higher insider pricing than many expect (assuming you're even interested in buying), as well as the "many" likely bids being assembled to buy the complex, due to its highly desirable location, thereby justifying those higher bids.

Excuse me, but haven't we heard this all before? Or are we that stupid that we've already forgotten the bear trap that Tishman and Co. fell into with their B.S. (read fraudulent) Wall Street accounting methods?

This place is NOT luxury...PERIOD. As Architectural Digest once noted, "It's Stalanist Architecture" and is solidly middle class...which is just fine. Calling it anything more is just a real estate agent-inspired sham designed to gin up pricing.

Or take it from Richard LeFrak, when he was asked last year if he would be intereted in buying, "Sure...but only for the right price. But c'mon, one bathroom apartments are NOT luxury in this city."

I couldn't have said it better myself, Dick.

Anonymous said...

It is So true. These are not anywhere near luxury, but, they are nice, large and full of windows.

A rare thing in Manhattan. But more importantly, they are located between 14th and 23rd street.

Prime PRIME even if it's first avenue. It's always location, location, location plus supply and deman.

Anonymous said...

We've had NO heat since yesterday. w.t.f.

Anonymous said...

Rich, you are right on target, as usual. In the world of investments, this would be referred to as a "value trap." In real estate, a "money pit."

Either way, it's an opportunity for negative real returns for the next owner--barring a fire sale price.

Anonymous said...

We now have students on our floor. They took the 2 BR apartment and in just one month, i've seen several sets of students move in and out.

Of course this was inevitable. 4 to 5 kids making a whole lot of noise and garbage. They congregate in the hallway where they smoke and scream and giggle almost every night.

What can management do? They have all these empty apartments and it's not like they can turn people away just because they're students, right? This is a mess.

Why do I bother calling PS again. They come, it stops for about 30 minutes, then they start up again.

Anonymous said...

Who can argue with "supply and deman?"

There's a big supply and CW is "de man!" Plus we have that "PRIME" location (between Aves A & B, just a mile from the subway).

It's all falling into place...

Adam R. Rose said...

First of all, occupants are not allowed to move people in and out “every few months.” If this is true, we ask that neighbors report this activity to us. Secondly, the reason that we ask residents to call Public Safety with noise complaints, EVEN IF THEY HAVE CALLED BEFORE ABOUT THE SAME APARTMENT, is that our system tracks the worst offenders and kicks these cases up to the Legal Department. We then start a very aggressive campaign including the notification of the guarantors. This has been a very effective program with proven results. But we can’t know about noise unless Public Safety is called.

Anonymous said...

But Stuy Town DOES have some advantages...

Last night my wife comes into the living room...and I'm drinking a cup of coffee while looking out the window.

So she starts watching television...and a few minutes later she notices that I'm still looking out the window.

"What's so interesting out there?"

"College kids going at it"

So she pops up off the couch...

"Where?"

"Right there. Across the way. Three of them. With the lights on...and no blinds or curtains."

"That's gross!"

"So what's on TV?"

"Nothing much."

"Right...and that's why I'm watching the show over here...much more entertaining."

Stuy Town Reporter said...

I'm envious of your window position!

Anonymous said...

But what's even better is that my wife said, "Turn off the lamp...they might see you! And that would be embarrassing."

To which I said, "Excuse me? I should turn off MY light? I'm just drinking a cup of coffee here!"

Really...I thought Jerry Seinfeld and George Costanza were going to pop up with a punch line next!

Crazy Eddie said...

@Anony 11.22 AM-Please tell me that the threesome college combo were all women. Please, because if there's guy in the equation, then, as Jerry explained, you become an orgy guy. And if you become an orgy guy:

"Don't you know what it means to become an orgy guy? It changes everything. I'd have to dress different. I'd have to act different. I'd have to grow a moustache and get all kinds of robes and lotions and I'd need a new bedspread and new curtains I'd have to get thick carpeting and weirdo lighting. I'd have to get new friends. I'd have to get orgy friends. ... Naw, I'm not ready for it."

Anonymous said...

The "window" you were watching is just a clever ploy by the TA to convince you to buy your apartment.
Live Porn, what they are not telling you is this is free now, but after you buy your apartment, you have to put 25 cents in the coin box for every 5 mins that you watch or the window shade comes down.

Anonymous said...

"We've had NO heat since yesterday. w.t.f."

We usually get NO heat during the daytime Monday through Friday. They figure the earners are out at work and the useless old folks should catch cold and die. It helps empty out the low rent unrenovated apartments.

Anonymous said...

@STR
Why?

Stuy Town Reporter said...

Why not!

Anonymous said...

It has to be almost as cold as a Speyer heart before they send up any heat. This place will probably eventually burn down because of people using space heaters because of these skinflints.

Anonymous said...

As has been the case for years, it appears that some apartments get tons of heat and some do not. Every winter for the past 13 years I have had to have my windows wide open due to stifling amounts of heat coming up. This, even when the temps are above freezing on occasion. Hopefully, issues like this will be resolved once the condo conversion is completed.

Anonymous said...

Or the people we know here who just leave the stove on. to heat up the place.

but some would SERIOUSLY profit if it did burn down.

who?

Anonymous said...

So why do people want to buy overheated or freezing apartments in a fire trap? I don't. The heating and plumbing always sucked and they still do. It's a stone-cold Rose heart that's worse than the Speyers. How will anyone resolve these things after the condo conversion? Hoping won't do it.

Anonymous said...

To Anon at 1:48p

Once the condo conversion goes through?!!!!

Like when the 2nd Avenue subway is completed?

Keep dreaming.

Anonymous said...

A condo conversion isn't going to affect the laws of Physics. With an antique steam heat system, high floors get too much heat. Low floors get too little.

On average, everyone is comfortable--except that, in reality, some freeze and others sweat.

Anonymous said...

Residents want to buy for the same reason people have been here and renting for 30+ years. We are staying ......in any case (RS) so I might as well have some control over it and have MY NAME ON it

Anonymous said...

To anon 5:43, because after the condo conversion the engineers will have made their assessments and surveys and any engineering shortcomings will have been addressed. Also, as anon 7:06 mentioned, we're not going anywhere so we may as well own the dang thing and have some say. I am not in the camp which believes that stuy town one bedrooms will be 5 million dollars a piece. The carrying charges will be equivalent to our R/S rents. If the end of the cosmos does indeed ensue, as so many posters are predicting, we can just walk away. While I realize that the imminent implosion of this complex awaits us, I would like to remind people that building which were in far worse condition have undergone successful conversions.

SICKOFLANDLORDS said...

No it won't defy physics but if you were planning on being a renter with all the bullcrap here for the next decade or two anyway, and leave your place possibly 2 your kids, we'd might as well own it. I'd like the tax deduction tbh, and i'd like some equity.

but hey, that's just me.

Anonymous said...

You only end up with equity if your purchase is ultimately worth more that what you pay for it--taking into account the future cost streams you will be responsible for as an owner vs. as a renter.

Nobody here has the quantitative inputs required to make that calculation so I find it confusing that so many people are ready to make the decision to buy. Maybe those same people won't be able to digest that data even when it is provided to them. Who knows.

I do know that P.T. Barnum had a name for folks like that. I also don't know who wants to leave an upside down mortgage "2" their kids.

Anonymous said...

"You only end up with equity if your purchase is ultimately worth more that what you pay for it--taking into account the future cost streams you will be responsible for as an owner vs. as a renter."

Based on what we will all be paying as insiders, the apartment WILL be worth more than what we pay for it. No need to worry about upside down mortgages "2" one's kids. There will be plenty of apartments to cover maintenance charges. Finally, if someone doesn't want to buy they don't have to.

Anonymous said...

Not planning on leaving an upside down mortgage 2 kids (duh). My kids can pay for their THEIR THEIR home just like we did.

Or we can leave it all up to the TS and the landlords to take care of our rents, the heat, the laundry room, our security and more. ROFLlllllllllll

Anonymous said...

I wouldn't want to leave an apartment here to my kids! I would hope they could provide their own home for themselves and I would also hope it would be something better than this decrepit project!

Anonymous said...

? This decrepit project that you and 11400 others refuse to leave without a fight. Seriously?

Anonymous said...

"? This decrepit project that you and 11400 others refuse to leave without a fight. Seriously?"

As renters we won't leave without a fight. You can bet on that. Wouldn't buy it though.

Anonymous said...

So YOU LIVE IN A PROJECT?

Anonymous said...

As renters we won't leave without a fight. You can bet on that. Wouldn't buy it though.

January 3, 2012 4:44 PM


Wow. just wow.

Anonymous said...

No wow.about it. Mortgage and maintenance would far out way rent. It would be financial suicide to buy.

Anonymous said...

"No wow.about it. Mortgage and maintenance would far out way rent. It would be financial suicide to buy."

Could you please give us all the figures since you're aware of them? I know a lot of us would be interested. I think there's definitely a wow about it!

Anonymous said...

if no tax abatement-then a NYC 2br condo would incur AT LEAST 600 in taxes a month--add mt probably at AT LEAST 600--THAT is 1,200 and that is VERY CONSERVATIVE--NOW LETS SAY 200K MORG PAYMENT-THAT IS AT LEAST 1,300 MT SO ALL TOGETHER 2,500 AND that is probably the cheap side....insiders price would be good but taxes could kill us

Anonymous said...

Then DON'T BUY!!! The tax issue exists for anyone that chooses to buy a Manhattan apartment so that's not here nor there. If you are worried about the tax burden, then DON'T BUY. Stay as a rent stabilized renter. What's the problem?

Anonymous said...

Right? I don't understand! The 'plan' is pretty great. YOu can STAY EXACTLY AS YOU ARE FOR THOSE of you who can't afford, dislike ownership (?) or hate change.

Anonymous said...

Possible that a very small percentage hate the whole plan and they're here typing away.

Apparently it's going to happen. Whether we like it or not. Get over it people.

Anonymous said...

You're right you don't understand. Those of us who are real rent stabilized people dont want a conversion because voluntarily taking ANY apartments out of the rent stabilized pool makes it much more likely that rent stabilization will end sooner than later. After all politicians like those who showed up to support the TA plan could give a rats ass about RS, all they care about is votes. Every one of them would love to see RS end, then they wouldnt have to pander to the "poor folks". Instead they would be free to take money hand over fist from their wealthy real estate friends like TS, etc. We are not fans of that and we are not fans of the TA. Despite what you think everything isnt about you!

Anonymous said...

Unless I've missed something, there currently is no plan.

Just an idea.

A plan would entail specific details, like prices, offering statements, etc.

Right now all we have is assurances and a cloistered group of folks imploring us not to consider other alternatives.

A real plan would involve a binding legal document (how about an offering statement?!?). When someone shows me that, I'll be able to make at least a reasonably educated decision. Right now, anyone who proclaims to know how things will sort out is full of something--and that thing would not be facts...

Anonymous said...

Well I'm a "real rent stabilized person" and I support the Brookfield plan. I support it because I understand that it (and not RS) is the only way to protect affordable housing for the middle class into the future.

Anonymous said...

"Well I'm a "real rent stabilized person"

Glad to hear that you've been stabilized. Unfortunately, you have absolutely no facts upon which to base your enthusiastic purchase.

I hope it works out well for you but, since you're ready to commit without any facts, it probably will not.

Anonymous said...

Good sir/madam: I have no doubt that you are able to follow a thought to its logical conclusion, so I ask you where in my statement did I mention that I "was ready to commit" to anything? I mentioned that I support the Brookfield plan. All any of us have to go on at this point in the info that was presented to us. If the "facts" of the proposal change from what has been presented, I do reserve the right to not support the proposal. I don't believe that I mentioned anywhere in my statement that I "was ready to commit".