STR: Referenced in a posting on the TA Facebook page, May 31, 2014:
Guterman response below.
Today, a blog was posted by AJ Miller, on the Facebook/Stuyvesant Town Tenant Association pages. AJ Miller innocently presented a previous posting (2011) by the Tenant Association (I am advised), on their own web-site and I believe, the local newspaper known as Town & Village.
The letter was not sent to me. There has been no attempt to contact me.
I would like to remind all the readers, that posting on their own web-site or even in Town &Village, does not constitute a reply to the letters and memorandums I sent to the Association and their representatives.
Certainly, any group (Stuyvesant Town Peter Cooper Tenant Association) without a hidden agenda, and considering our in-depth knowledge and experience over forty-four years, as successful real estate investors and thirty five years as principals in successful condominium and cooperative conversions, would have long ago acknowledged my many attempts to discuss the reasons, for our choice to convert the property to cooperative ownership.
The information in the TA's 2011 post, was simply inaccurate and based on inexperience and a lack of expertise in New York conversions and with cooperative housing in particular. I would also like to mention, that the accuracy of the advice and the expertise and experience of the TA advisors, is what should be worrisome to the TA Board and to the residents of the community as a whole.
While I don't want to comment at this time on our firm's reasons for selecting a cooperative form of ownership, I can tell you that the decision was based on our own personal and direct knowledge gained from the many thousands of New York City apartments that we converted to cooperative and condominium ownership.
Just to be absolutely clear, we are sincerely interested in the ownership and conversion of Stuyvesant Town/Peter Cooper Village and are willing to have a debate about the strengths of our reasoning as compared to a condominium conversion plan. I will be happy to sit in an auditorium with a Brookfield real estate officer and with an experienced cooperative and condominium real estate partner, from both Paul Weiss et al and Moelis & Company.
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