Gerald Guterman made the following comment today on the blog in response to a query about what can be done to help the tenants of this community. I'm placing this response here also, front and center on the blog. If you wish to comment on this, please make your comment pertinent to the matter at hand. And no personal attacks, please, if you disagree. Thanks.
To the residents at STPCV:
It is painfully obvious, that the only
way to achieve any sort of economic stability for the community or its
residents, is to use the enormous, insurmountable, economic and
political power of the 11,232 families currently living in the
community. There is no private owner, mortgage lender or manager in New
York, that can withstand the full force of a monetary, legal and
political attack by the organized and combined economic might of the
I have stated before, that the changes necessary
to bring about stability in the community as well as economic
protection for it residents, will only happen when you, the residents,
properly organize yourselves into one laser focused force and use that
force, with very experienced legal representation who has a long history
of landlord tenant success.
Additionally, there are several
other large communities in New York, that are undergoing similar, if not
identical problems with the same management company.
suggest that combining the power of these very large residential
communities into a single negotiating force, will help to draw and
maintain the attention of these insufferable, egotistical and
know-it-all managers, who believe that enjoying a reasonable "quality of
life", is restricted only to them and their families. These same
managers, believe that their only responsible to STPCV, its residents
and the resident's quality of life, is when a court rules that it is
I have written before, that with strong enough
economic force and laser focused litigation, this community can be
stabilized and the quality of life made better for all of the residents.
The following matters must be concluded:
• The Roberts litigation must be re-settled,
• Prior MCI increases must be re-settled, with further increases moderated,
• conversion of STPCV apartments to dormitory housing must be immediately stopped and reversed,
• The Oval must be restored,
• all open spaces in the communities must be kept permanently open, without construction of any type or manner.
• Stuyvesant Town and Peter Cooper village must be combined into one distinct community,
the STPCV community must be converted to "ownership" housing, with the
purchase price to tenants in occupancy, not more than 60% of the market
price for the same or similar apartments,
• Financing for all tenants in possession who purchase, loans must be pre-approved for 85% to 95% of the purchase price,
All tenants who purchase their apartments, must be free to resell those
apartments at the market price, beginning the earlier of one year after
the sponsor has sold all the apartments or forty-eight months from the
date of conversion,
• A capital reserve fund in the amount of: the
lesser of 1% of the gross sales price of the residential units or
$50million must be established for the community's use after conversion,
A pre-arranged contract to sell the "un-sold" apartments to a
non-profit organization with an agreement that specifies that said
apartments will remain as rent stabilized, rental apartments for
approximately twenty years must be accomplished.
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