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.

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, May 15, 2013

Hey, Residents! Don't Forget Our Spring "Circus" Carnival is THIS Sunday!


We've been hearing that some of you are really down in the dumps after receiving notices of a dramatic rent increase, mid-lease. Well, the best way to deal with the blues is to laugh and dance, so don't forget that just around the corner we have our Spring Circus Carnival! That's right, this is one amenity event that we are really proud of, one which is sure to take your mind off making the decision whether you and your family can continue to live here, or whether you will have to seek new digs someplace in Manhattan...or Queens...or maybe New Jersey.  Please note: The Oval will be fully protected by the largest assembly of Public Safety officers we can muster, so that malcontents will not feel free to disrupt our festivities.

And how about making some money with our tenant referral program, money you may need if you intend to stay here.  More friends in your building...or maybe more friends occupying your apartment.  A win-win situation, unlike what your lawyers got you into.


The Spring Circus Carnival, which is suppose to introduce the spring season, is happening closer to the summer than the spring, a hallmark of our expertise in scheduling.  And, of course, the carnival is for residents and their guests only.  But you knew that, so next time we will see no point in mentioning it.  (Psst.. a secret between us: we never check anyway, so come on down wherever you are!)

If you want to contact us for any reason (except to complain), please give us a call at: (888) 767-3175. I've no idea what department you will get, but, hey, we've always been kinda screwy around here. Haven't you noticed?

Oh, and we urge all our residents not to post on the TA Facebook or blogs like the Stuy Town Report or Escape Stuy Town or the Town &Village Facebook page.  There's just a lot of complaining there and nothing else. The best place to post is at our official Peter Cooper Villiage / Stuyvesant Town Facebook page. We are always positive and cheery, and offer interesting good recipes and fashion tips once in a while.

----------------

May 19th UPDATE:  Sorry, residents, it rained on our carnival so we canceled it.  We'll let you know when it's going to be rescheduled.  Possibly the first weekend of the summer so that we can really ring in the spring season!!!  For those of you who are down in the dumps about a mid-lease rent increase and hoping that today's carnival would brighten up your day, don't forget that Zeichner Wine & Liquor store on 1st Ave can ease some of your trauma. Conveniently located right across from Stuy Town's Leasing Office.

33 comments:

Anonymous said...

Brilliant, STR! Absolutely brilliant!

Anonymous said...

.a good way to show our contempt for CW would be to totally boycott all Oval events and amenities.

Anonymous said...

STR it's the Spring CIRCUS Carnival! Whatever the F that means...

Anonymous said...

The Stuy Town Facebook page is such a blessing. Nowhere on the Internet can I find such a random collection of useless information all in one place! I bet they're still playing the Google Zamboni game! Or eating Artichoke. #yum

Anonymous said...

If any of the Roberts/MR tenants who are getting fucked up the ass by CW take advantage of and spend their dollars on any of the Oval bread and circus crap, then all I can say is: "I hope they quadruple your rent, you assholes."

Anonymous said...

We can't wait to take the kids to see the cock fighting and water sports! And my husband is looking forward to the side boob but he won't admit it.

Stuy Town Reporter said...

>>STR it's the Spring CIRCUS Carnival! Whatever the F that means...<<

Noted. Thank you!

Stuy Town Reporter said...

>>a good way to show our contempt for CW would be to totally boycott all Oval events and amenities.<<

I think this spring carnival would be a good place for irritated tenants to gather in protest. It would be a perfect accompaniment to this CWCapital sponsored event.

Anonymous said...

STR
Totally agree with you about protest at Carnival

Anonymous said...

That's exactly the place that the original meeting / protest should have been held. Many people could not attend because they had to go to work!!!

Let's get a REAL head count this weekend.

Got the stones, Councilman Dan!!?!

Edmund Dunn said...

Looking for something to do on Sunday, May 19? Avoid like the plague CompassRock’s Spring Circus Carnival Sunday on the Oval which is really a commercial event designed to draw in new tenants for their next bait and switch lease strategy. Boycott this “carnival”-Hey, Rube!- especially after those major drop dead mid lease rent increase notices that were distributed. Instead, go to the Ukrainian Festival on 7th street between Second and Third Avenues. A true classic New York City (not fake) family event. Here is the schedule. Friday, May 17 • 4pm-11pm., Saturday, May 18 • 11am-11pm. Sunday, May 19 • 1pm-5pm. Get out of the complex. This is what lving here in Manhattan is all about. Explore. MMMMMMM Perogies!

http://evgrieve.com/search/label/Ukrainian%20Festival

Stuy Town Reporter said...

Edmund, I actually think that having a protest (or a "gathering") on Sunday of all residents who are pissed off at the way things are being run in PCVST, to include those affected by the rent increases and many others, would have considerable visual impact. The news media could be invited. It would be a fantastic counterpoint to the "circus" events and amenities that go on around here and would be happening that very day. But, yeah, I'll also make that Ukrainian festival. Always delicious homemade cooking there.

Anonymous said...

There is nothing more insulting to tenants getting a several hundred dollar rent increase than throwing a Spring Circus Carnival Spectacular Street Fair Gala Event in their faces!

Do they really think the neighborhood is in a party mood???

And the sheer audacity of Andrew MacArthur and his gang of thugs at CWCapital for having the NERVE to put those 'refer a friend' adverts in the Oval.

Drop dead!

Edmund Dunn said...

STR-In a perfect world, I totally agree that a gathering is a great idea. But that’s requires being active (who’s planning this, I got to show up, who else is coming, do I have to bring a sign, etc.) versus being passive (just don’t show up) , which a boycott of this carnival does. Tumble weeds and the sound of crickets at this event would be effective as well in the mode of “Suppose They Gave A War and Nobody Came”. I am all for something informal but since the carnival is on their terms and there will sure to be a heavy PS presence, I am also concerned about any blowback from CWC/CR.

Stuy Town Reporter said...

Oh, this would have to be organized by the TA and Garodnick. And a heavy PS presence would be welcome. Would make a great photo.

Actions really need to be taken now, before people accept the new norm.

Anonymous said...

a good way to show our contempt for CW would be to totally boycott all Oval events and amenities.

These events aren't held for residents, they are dog and pony shows intended to bring outsiders in with the hopes they'll love the place. CW could not care less if tenants attend these events or use the amenities.

Anonymous said...

A lot of misplaced anger here. CW Capital had no choice but to do what they did. It was in the deal.They have to answer to bondholders. What would happen to you if you told your boss you didn't want to collect the money you were entitled to get from your customers (as the result of them suing you) because you feel sorry for them. The honest answer is you'd be fired. The Roberts attorneys screwed up royally. Garodnick and the TA with their desire for a swift resolution so they could resume their push to own the place are the real culprits. Yet it seems most are willing to give them a free pass.

Anonymous said...

I can't wait for the Buggery Booth!

Stuy Town Reporter said...

>>CW Capital had no choice but to do what they did.<<

Actually, they did have a choice. Several. But they chose to use this particular option to the fullest.

Anonymous said...

Nobody will rent here with the level of duplicity being exposed in the press the past two days.

In this economy renters can't afford sudden rent increases mid-lease. Who in their right minds would trust CWCapital as a landlord at this point? Not working people and not the parental co-signers who watch/read the news.

The bottom line is a 60+ year old apartment with the worst management "company" Stuy Town has ever seen is not a bargain at $4,000/month. It's a liability.

Anonymous said...

Hi them where it hurts! In the wallet! Tell their future renters what's really going on here.

http://www.yelp.com/biz/stuyvesant-town-new-york

http://www.streetadvisor.com/stuyvesant-town-manhattan-new-york-city-new-york

http://www.yelp.com/biz/stuyvesant-town-new-york

Anonymous said...


Actually, they did have a choice. Several. But they chose to use this particular option to the fullest.

Have you seen their hiring agreement? What proof do you have that they had choices? What about their fiduciary responsibility? I think your guessing here.

Stuy Town Reporter said...

I know I shouldn't, but I'm going by what Garodnick said in yesterday's press conference, which was that CWCapital did not have to/were not mandated to exercise that option.

Anonymous said...

Garodnick is using smoke and mirrors here to deflect the blame on this. Although he is not technically wrong, McArthur could have said no to the increases but he most likely would be sued or removed from his job as would all the people who work for him. Again not a bad thing for tenants but not a good thing for him/them. So why would he do that? Is he going to lose his very lucrative position and send his employees to the unemployment line or have his company and possibly himself sued over this on behalf of tenants who through their attorneys agreed to these mid lease increases. Everybody wanted their check and no one crossed the t's and dotted the i's. Not his fault. It kills me to say this but from a business stand point I don't see that he had any other choice than to do this. Meanwhile, Dan Garodnick did not have to endorse the deal. He should have read it. I believe he was an attorney before becoming a Council member. The TA board has several attorney's on it, where were they on this? I realize no one wants to hear this especially Dan's supporters but he championed this and is now acting like he knew nothing. it's just not true. It's actually a scandal.

Anonymous said...

- A lot of misplaced anger here. CW Capital had no choice but to do what they did. It was in the deal.They have to answer to bondholders. What would happen to you if you told your boss you didn't want to collect the money you were entitled to get from your customers (as the result of them suing you) because you feel sorry for them. The honest answer is you'd be fired. The Roberts attorneys screwed up royally. Garodnick and the TA with their desire for a swift resolution so they could resume their push to own the place are the real culprits. Yet it seems most are willing to give them a free pass. -

You could not be wrong here. If you think CW HAD to raise rents because bondholders made them, you are mistaken. Bondholders want all their money back. Raising these rents will not do that. Selling the property to tenants will give bondholders their money back. Now. And CW will not do that.

The Roberts attorneys didn't screw this up. They were never out there for the community as a whole. You're talking about a handful of plaintiffs who made enough money to make this years-long case even remotely worth the trouble. And as for the rest, most aren't even filing for their $. Many are not even aware or don't care.

And you can't blame the TA or Garodnick for the result. They didn't file the case and had nothing to do with its resolution.

Anonymous said...

I'm shocked that Christine Quinn wasn't there. Not.


Anonymous said...

Nobody will remember what CW Capitol did years from now if successful, do you think Tishman has suffered?

Anonymous said...

Of course people will continue to rent here. This mid-lease rent sodomy is only being visited on Roberts class tenants who were stupid enough to sign leases that gave the landlord the right to do exactly what they're doing, despite whispered assurances by rental agents that "oh, they'd never do that !"

Either the apartments will be rented to crowds of kids, or they'll be warehoused for potential sale. What astounds me is the pure evil that goes into projecting the outcome of this litigious situation, and the corruption of the system that lets it happen. On the other hand, the elephant in the room asks, could there be any other outcome when CW is trying to service $3.5 billion in debt ?

Anonymous said...

CW works for the bondholders, they don't run a charity for the tenants. Their job is to make the senior debt owners whole first If they didn't exercise their mid lease hike option, i guarantee you one of the bondholders would've filed a suit against them. As for the hikes, they would have happened regardless of the option. It's just happening all at once instead of being rolled out case by case as the affected leases expire over the next 12-24 months.

Seems to me Dan and the TA have a bit of a conflict of interest in trying to speed up a sale by throwing these tenants under the bus with the settlement. That said, those rent stabilized tenants paying below market rates don't know what they're getting into if they try to buy the place.

The maintenance people will tell you the buildings need a ton of work. Have you seen what the city is charging for property taxes these days for coops and condos. Then there are the mortgage payments to top it all off. Assuming CW is willing to sell the avg 1,000sf 2 bedroom apt for below market at $750 per sf, you'll still need to put up $150k down payment on a conforming loan plus make a monthly mortgage bill of $2,800 on a 30 yr fixed rate. Add at least another $1 per sq ft for taxes and maintenance charges and that's another $1,500 for a back of the envelope total of $4,300, which happens to be pretty close to the askiing market rate rents for the complex.

Now if you were in Dan and the TA's shoes and are paying way below market, why would you want to change the status quo? In fact, it would be to their benefit for CW to be able to raise market rate rents even more so that those tenants can continue to subsidize the rent subsidized group's share of the overhead for running the place.

I think Dan and the TA are actually worser bad guys than CW in this situation. At least CW is upfront about their motives for doing what they do. Dan and the TA put up a nice front but they obviously have a different set of incentives once you realize how the dollars fall out for different types of tenants

Anonymous said...

I hate to say it, but watching this horror unfold makes me soooo glad I got the hell out of there in April. There is life after ST/PCV and it's a lot less stressful.

Do you really think things will EVER get better? Magical thinking is a deranged thing, and there is zero evidence suggesting that ST/PCV will ever be what it once was or what you want it to be. That being the case, why not get out now?

Anonymous said...

$750 per square foot values the property at over 8 billion. Plus you need to get 15% buy in for a conversion. Not happening at that price.

Anonymous said...



Why would they STICK it to the market rate renters? MAKES NO SENSE.

most are paying close to 4k and up. Why @@CK with that?

MAKES NO SENSE. Seems to us that the higher payer customers are the landlords goal. ,,, so?

Anonymous said...

"so that those tenants can continue to subsidize the rent subsidized group's share of the overhead for running the place."

This is BS, as the STR has pointed out many times. The old school RS tenants did not buy this place (With Other Peoples Money-read the book) for 5.3 billion dollars, so please, enough of this crap.