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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.

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. Sorry.

Thursday, May 29, 2014

Wouldn't It Be Funny



If Fortress, or someone like them, buys the property and decides to turn the units into condos? They'd get a portion of RS tenants to give up their RS rights and acquire loads of money from the sale of these condos and perpetual monthly maintenance fees that could match, if not exceed, current rents.

35 comments:

Anonymous said...

No, STR, it would NOT be funny!

Anonymous said...

Yes, STR, you are a real comedian. Meanwhile. With a reported $4.7 billion bid on the property by Fortess, TA President John Marsh said the pressure to make a profit is likely to create a repeat scenario of the Tishman Speyer purchase with its business plan of evicting tenants paying lower rents. “Right this instant we all need to start talking about what we are going to do about Fortress and the other sharks circling us,” said Marsh.

Anonymous said...

Terribly funny.

Anonymous said...

If they were genuinely responsible and of good intention they would honor Affordable Housing, put a moratorium on removal of RS apartments on the complex, once those apartments legally reach max cap of $2500 freeze it to keep affordable housing in PCVST, first remove the 3000 dorms and their wall partitions and sell those instead of even one RS apartment. If they had any honor at all they would scrutinize the rent roll and return money stolen. That is what a good condo owner landlord would do.

Anonymous said...

I can be bought out for 2 Million!

50+ years no upgrade lease and they can get me out for that paltry sum....hmmm OK maybe 3 or 4.

Stuy Town Reporter said...

There was a point to that funny business: that a condo conversion by Fortress or anyone else would have the same effect that a tenant buy-out condo conversion would have: the loss of affordable housing in ST/PCV.

Anonymous said...

We need to stop renting to these students and get back some stability here!

Anonymous said...

There is this continued reference to NYU renting 3,000+ apartments. Can anyone point to where this fact comes from?

IF NYU rents 3,000 apartments don't you think they have a louder voice than the TA? Scarey...

Anonymous said...

Up until a week ago, before Fortress cut the TA out of the deal, the TA were one of the sharks circling.

Anonymous said...

They can't evict you (9 45 am) stop spreading alarm sounds , no one should ever leave here unless they want to.

Totally crap if you believe or are intimidated by CWC or any other ll. File complaint if they are harassing you.

Anonymous said...

They , WE, were never in the deal.

they've been playing us and the TA for so long, keeping us busy, enticing the TA, yes, we'll talk about selling to you... (barf, fake, cough, as IF)

while that kept us distracted from fighting their fake increases on leases here and Mci bills.

Anonymous said...

Town & Village posted an editorial of Marsh. I posted a response to it in hopes of providing a differing opinion.letters to the editor 5/29. tenant since 2001.

Hippo said...

TA is so full of sh*t.
They're going to bid?
With what?
They don't have a pot to piss in.
And that "rally" on June 13th...woo hoo...Fortress and CWC must be shaking in their boots.
The TA sucks, the pols especially Danny Boy Garodnick suck,
Hoylman, Maloney too.
What a bunch of self-important, ineffective phonies.
So sad..the destruction of Stuy Town.
BUT WAIT....we have the Summer Concerts to look forward to. The noise will surely wake the dead.

Anonymous said...

I found out today that some students rent here and don't even stay a year. Once located, they find cheaper digs in the neighborhood and move out in a couple of months. This means that the churn is much quicker than thought. It's the renting to students that's killing us.

Anonymous said...

Well, I figure that 2 yrs ago the conversation between Garodnick and the TA board went something like this. We got outbid last time. We don't want that to happen again so we have to bid high. They only way we can do that is by going with powerhouse developer and supporting a condo plan because condo plans bring in more money for the developer. Enter Brookfield and a condo plan. But CW comes in with Fortress playing the 'mine is bigger than yours' game. So the TA plan loses again. This is what the TA gets for stepping out of the advocacy role and getting involved with dealers and politics.

Anonymous said...

Well said post on T&V 3:28

Anonymous said...



Just for the record: Someone istaking off all the PAPERS int he buildings and elevators about June 13 and downtown rally.......

Anonymous said...

Hey 2:48 PM, try telling the 4,000 or so tenants that Tishman evicted, that no one can evict you.
9:45AM was just quoting John Marsh.
You can rant and rave all you want, but facts are facts.
PCVST will sell, someone will buy it. And if its not the tenants it will be a for profit company, that are all about making a profit. Like it or not.

Anonymous said...

Why are the building fliers gone from our building with information on june 13?

Anonymous said...

It is a myth that ownership will tangibly improve quality of life issues (at least for many years into a conversion). The "sponsor" would likely retain the majority of the shares for many years (statistically this is true) and thus have more power on how the place is run. Think ersatz-dorms are bad? A coop I know of had to put up with the sponsor renting his units out to social services, until enough units were finally sold and the shareholders had more control. That is reality.

Anonymous said...

4000 people evicted? No, attempted

Anonymous said...

Prepare yourself it the inevitable 9:04, no matter how much you try to convince yourself it won't happen, some form of ownership, condo coop or condop, is coming..,,

Anonymous said...

NYU rents a handful of apartments in our complex....and they are to graduate students. The myth that NYU rents apartments to undergraduates is nonsense, and you should all know the truth.

Anonymous said...

10;32 pm. NO, you are wrong. There is

NO reason to convert the property to condo or coop. It continues to profit as a rental and will increase as such.

Anonymous said...



THE JUNE 13 TH RALLY should be put out there to all NYC residents - it's not just about stuytown -

THERE IS NO AFFORDABLE HOUSING HERE in this city.

Anonymous said...

12:05 AM You are wrong. It is not a handful - it is a large amount of apartments. There are at least 12 - 50 apartments in each and every PCVST building.

Are you trying to cover it up?

Anonymous said...

Actually, they can evict you--eventually. Meaning, in the next six years, you will see MCI after MCI after MCI and combined with annual rent increases, your rent will soon be over $2,500. Come 2020, those with incomes over $125K for two years, that means buh-bye. They don't even have to offer you a another lease, but it will be at say, $8,000 by then. For the ones under the income limits, they will have to wait for you to pass on, but that's a war of attrition. Then down come the buildings as they clear out and up go much more densely built high-rise expensive condos.

Anonymous said...

12:05...I saw 2 students who were moving out yesterday. Not a day over 20. There might be a limited number of leases where an NYU rep has signed, but so far as renting to students....there are plenty of undergrads here. And grads.

Anonymous said...

12:05 A handful?! BS
Over 3000 apartments with as many as 3 - 5 adults living in each is A LOT!
Did you at least upgrade the plumbing in each of our buildings to accommodate the doubling of the number of adults in each building because that is a lot of crap!

Anonymous said...

GET RID OF ALL OF THE STUDENTS!

Anonymous said...

I agree.

Anonymous said...

"Wouldn't it be funny" if I won Lotto? Yeah, now THAT would be funny.

Anonymous said...

Let's see the leases for the NYU students? let them foot the Mci bills and fake renovation bills.

$150k renovation in a one br, - my ass.

Anonymous said...

8:30 AM

Cut out the accusations. There is student housing throughout ST, but it's very limited, and it's nowhere near the crazy numbers you invented. The problem is that the overwhelming majority of the parents renting here for their student kids are renting regular old ST apts through the leasing office just like everybody else and are getting dragged here by brokers just like everybody else, not by NYU student housing reps or whoever. The landlord likes to rent to students so they can flip the apartments constantly and build up the 15% vacancy increases until legal rents on RS apartments are waaaaaay above market rate.

Anonymous said...

12:23 PM Suggest you double check your information with the City Records and the NYU Compass Rock documents. The NYU Housing apartments in Stuy Town and PCV is above 3000.