Gerald Guterman to the Tenants of ST/PCV

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 STPCV community.

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.

I would 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 their responsible.

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.

Gerald Guterman