Wednesday, October 21, 2015

ST/PCV Apartments Valued at Close to Half a Million Per Unit

http://fortune.com/2015/10/20/what-the-5-billion-stuyvesant-town-deal-says-about-the-real-estate-market/

"The new deal for Stuyvesant Town values the complex’s roughly 11,250 units at roughly $471,100 a unit."

So what do you think is the long-range plan of any company that purchases this property? Affordable middle-class housing?
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8 comments:

  1. AnonymousOctober 21, 2015 at 10:16 AM

    And technically the scheme to increase the room count was to increase the apartment price. 1 bedroom apartments are now 2 bedrooms, with separated dining and living rooms. The chopping of the apartments was to increase the sale price of each unit and the TA and DOB and Dan were in on it all along to help the new stabilizers increase the value of their apartments.

    That is why Steinberg, Marsh, Garodnick, chopped the apartments and installed the dorms, to take them out of affordable housing and to increase the flipper value for the resident buyers.

    That is why Steinberg focused all on bikinis and not the 6000 dorms. And why the TA never addressed the quality of life decrease from the dorms. And why Garodnick pulled all his Garodnicks.

    ReplyDelete
  2. AnonymousOctober 21, 2015 at 10:26 AM

    Nothing will change. You will pretty much see the same old thing. New boss same as the old boss. They are out for only ONE thing. A return on their investment at all costs.

    ReplyDelete
  3. AnonymousOctober 21, 2015 at 10:30 AM

    What a phony.

    ReplyDelete
  4. AnonymousOctober 21, 2015 at 10:39 AM

    The number of two bedroom apartments increased while the number of one bedroom apartments decreased (while they did not adjust the number of rooms we all pay on our MCI calculations). That is FRAUD!

    FRAUD FRAUD FRAUD FRAUD FRAUD

    ReplyDelete
  5. AnonymousOctober 21, 2015 at 12:39 PM

    HEY STR, what about October 21, 2015 at 10:39 AM comment?

    ReplyDelete
  6. AnonymousOctober 21, 2015 at 1:20 PM

    The new two bedroom apartments (formerly one bedroom) went from 3 room apartments to 5 room apartments as they divided the dining and living areas with a wall too.

    ReplyDelete
  7. Stuy Town ReporterOctober 21, 2015 at 1:21 PM

    I'm sure the pattern is to turn 1 bedroom to 2 bedroom, 2 bedroom to 3 bedroom. Neither the TA nor Garodnick wanted to look into this and the DOB filings that stated there would be no change in occupancy with the addition of a wall partition!

    ReplyDelete
  8. Stuy Town ReporterOctober 21, 2015 at 1:48 PM

    >>The new two bedroom apartments (formerly one bedroom) went from 3 room apartments to 5 room apartments as they divided the dining and living areas with a wall too.<<

    Amazing. I didn't know that. And, of course, technically no change in occupancy!

    ReplyDelete

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