This will explain a lot. Including how CWCapital prides itself on reducing "management fee" by 33%. (CompassRock, the new management firm of PCVST, is joined at the hip to CWCapital, the latter being its financial partner. This crucial fact is left out of this PR piece.) And, yes, CWCapital states that it has "improved the resident experience." That's the reason Oval Cafe was created, of course, and why you will see more "improvements" to the resident experience. Never forget, these people don't care what YOU think but how they can promote the property.
Here goes the official statement from CWCapital:
Early in 2012, CWCAM led a management restructuring that included re-assigning senior executives and re-ordering functional departments to better manage on-going projects and increase operational efficiency. As a result of these enhancements, CWCAM has increased NOI since taking over by more than 45% on an annualized basis
“I am very proud of the results at Peter Cooper Village/Stuyvesant Town,” said Charles Spetka, CEO of CW Financial Services. “Since taking control, we have realized significantly improved financial performance and at the same time improved the resident experience. Our intent is to continue both trends.”
UPDATE (for those who don't think there's a solid connection between CWCapital and CompassRock. Garodnick also has a say.):
ANOTHER UPDATE - Much of the same info, but now we get a quote from Adam Rose: