tag:blogger.com,1999:blog-1837176580996082182.post2921938984123175604..comments2024-03-28T00:08:11.164-04:00Comments on The Stuyvesant Town Report: The Team That's Going to Take Care of UsStuy Town Reporterhttp://www.blogger.com/profile/05538426011607971633noreply@blogger.comBlogger53125tag:blogger.com,1999:blog-1837176580996082182.post-7213826018252172012-09-01T13:06:32.980-04:002012-09-01T13:06:32.980-04:00"Tommyboy said...
If you own the notes o..."Tommyboy said...<br /><br /> If you own the notes on defaulted properties you are the owner de facto"<br /><br />Correct. CW does not own the notes. The BONDHOLDERS are the owners of the notes, they didn't walk away or default on anything, they STILL own the notes. CW is simply their representative. Comprende ?<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1837176580996082182.post-86217124819363403912012-09-01T10:44:42.081-04:002012-09-01T10:44:42.081-04:00If there were certain standards that were required...If there were certain standards that were required before someone could rent here, such as having a job, certain level of income, references, etc., we could legally eliminate renting to students. MetLife had such requirements and there was nothing illegal about it.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1837176580996082182.post-13424097982135756212012-09-01T09:16:11.387-04:002012-09-01T09:16:11.387-04:00If you own the notes on defaulted properties you a...If you own the notes on defaulted properties you are the owner de factoTommyboynoreply@blogger.comtag:blogger.com,1999:blog-1837176580996082182.post-50936950919549341692012-08-31T22:12:24.968-04:002012-08-31T22:12:24.968-04:00I don't mean to attack my neighbors, but we sh...I don't mean to attack my neighbors, but we should try to be as factual as possible in our blog statements. What we often see is paranoia or sheer speculation which does not help us. We know what special servicers are supposed to do, and we know that CompassRock was just formed and is owned by CW. Making dumb statements like we should have a rent strike or that Brookfield is calling the shots just makes us look like we are silly and powerless. Why don't we focus on REAL things like enforcement of rules? Speaking of that, we should stop suggesting illegal rental policies like discriminating against students. Really ... we could do a much better job for ourselves. And STR should lead us. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1837176580996082182.post-57976457003758191372012-08-31T21:51:02.753-04:002012-08-31T21:51:02.753-04:00The people who own the notes are the schmoecklehea...The people who own the notes are the schmoeckleheads who were duped by sleazy Tisman-stupid and I don't care if they never see a penny of their investment. They betted on people being forced out of their homes so they could make a killing. May they rot in hell.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1837176580996082182.post-56663072194860808072012-08-31T17:31:24.393-04:002012-08-31T17:31:24.393-04:00@Tommyboy, CW does NOT own the property. They are...@Tommyboy, CW does NOT own the property. They are the special servicer and represent the interests of the bondholders who actually own the notes.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1837176580996082182.post-20962476616169063932012-08-31T15:37:04.309-04:002012-08-31T15:37:04.309-04:00Oops, Cw is the owner of notes on 3 properties, t...Oops, Cw is the owner of notes on 3 properties, these 3 properties were bought to make $. Their plan was to evict non market rate tenants. All 3 failed! <br />Stuyvesant Town, Riverton Houses & S.F apt. Complex.<br /><br />Woodward's video interview concerning the formation of CompassRock, states they are able get operations up & running very quickly, basing most decisions on National Best Techniques.<br /><br />Thank YouTommyboynoreply@blogger.comtag:blogger.com,1999:blog-1837176580996082182.post-27725589499694877662012-08-31T15:21:01.972-04:002012-08-31T15:21:01.972-04:00Dog policies, student rentals, illegal hotels...I ...Dog policies, student rentals, illegal hotels...I don't expect CW to comment. They're transient agents. I do expect to know what bidding sponsors' positions are...especially Brookfield's.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1837176580996082182.post-72793120280371083842012-08-31T14:37:30.917-04:002012-08-31T14:37:30.917-04:00I'm getting ready to post on that very stateme...I'm getting ready to post on that very statement!Stuy Town Reporterhttps://www.blogger.com/profile/05538426011607971633noreply@blogger.comtag:blogger.com,1999:blog-1837176580996082182.post-49642750671298811772012-08-31T14:12:17.462-04:002012-08-31T14:12:17.462-04:00An article in the current issue of Town & Vill...An article in the current issue of Town & Village underscores CompassRock’s inexperience. When asked about current quality of life issues such as enforcing dog policies, illegal hotels and the increased student population, David Woodward, CompassRock’s President, acknowledges the problems but says “I don’t have a solution for any of those things.”<br /><br /><a href="http://escapestuytown.wordpress.com/2012/08/31/statement-of-council-member-dan-garodnick-on-cw-capitals-decision-to-change-the-management-in-stuyvesant-town-and-peter-cooper-village/" rel="nofollow">Escape Stuy Town</a>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1837176580996082182.post-50547025806548312012012-08-31T13:13:15.422-04:002012-08-31T13:13:15.422-04:00All this pointless speculation about a $3 billion ...All this pointless speculation about a $3 billion +++ deal is such nonsense. The tenants have no control over this unless the TA is part of successful partnership with a backer. If it happens, it happens. Until then, it's up to the residents to decide if ST/PCV is the place they want to be for the long term, or if it's time to move on. Anyone with a modicum of intelligence can read the handwriting on the wall on most all the outstanding issues. Even if the tenants lead a condo bid, it will never return to the state it was in for the 1st 50 years, and it will take at least 5-10 years to restore stability (if it can even be done). It's just not going to happen easily. I do know that I wouldn't pay $500K ++ to live next door or below an apartment full of WOO girls or guys. No freakin' way.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1837176580996082182.post-27634946237909720142012-08-31T12:51:51.897-04:002012-08-31T12:51:51.897-04:00If the place starts going down the toilet [even mo...If the place starts going down the toilet [even more so] and we are treated badly by this new "fledgling" management company, I sincerely hope that the Tenants Association will organize a rent strike. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1837176580996082182.post-11809608742927864902012-08-31T12:27:15.351-04:002012-08-31T12:27:15.351-04:003 days of events this long weekend on the Oval, wi...3 days of events this long weekend on the Oval, with daily start times of 11AM?!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1837176580996082182.post-5269045415617186752012-08-31T11:25:23.412-04:002012-08-31T11:25:23.412-04:00I find two important omissions in the Meredith Kan...I find two important omissions in the Meredith Kane video. With respect to management policy, unless some sponsor plan wins that really ensures very high tenant buying (well over 50%), the sponsor will own many unsold units and will control the board for the first 5 years. Period. Also Kane says they expect a high number buying but she doesn't say what percentage she means by high. By most real estate reckoning, a 25%-30% participation rate would be considered high. So the participation rate Brookfield-TA is shooting for remains a complete unknown. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1837176580996082182.post-12634738877269069122012-08-31T11:18:06.372-04:002012-08-31T11:18:06.372-04:00"If CW has been negotiating secretly with Bro..."If CW has been negotiating secretly with Brookfield/TA advisers only, that might be the basis for a lawsuit brought by the other sponsors. Believe this is supposed to be an open bidding process."<br /><br />Who said they were negotiating secretly? I think it's compelling that CW themselves said there are no talks going on regarding the property's sale while Meredith Kane said the opposite. Plain and simple. Someone isn't being forthright no?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1837176580996082182.post-3171926204754133522012-08-31T11:17:11.143-04:002012-08-31T11:17:11.143-04:00Sorry. I don't see where Meredith Kane says t...Sorry. I don't see where Meredith Kane says that they are negotiating with CW now. Toward the beginning of the video ( :35) while discussing pricing she says "once CW has decided whether or not it's moving forward in negotiating with us.."<br />That's the only mention of negotiating. Please cite the time in the video where she says they're negotiating now. That not withstanding, there seems to be nothing amiss in what she says with respect to negotiation.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1837176580996082182.post-55494960265320865282012-08-31T10:46:45.615-04:002012-08-31T10:46:45.615-04:00Not sure. If CW has been negotiating secretly wit...Not sure. If CW has been negotiating secretly with Brookfield/TA advisers only, that might be the basis for a lawsuit brought by the other sponsors. Believe this is supposed to be an open bidding process.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1837176580996082182.post-34638605624885590052012-08-31T10:44:52.286-04:002012-08-31T10:44:52.286-04:00Meridith Kane is a liar. Plain and simple. Any spe...Meridith Kane is a liar. Plain and simple. Any special servicer has the exact same job: to sell to the highest bidder. Don't you think that there are plenty of firms that would bid on the property when it goes on the market? IT IS NOT YET ON THE MARKET, PEOPLE! Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1837176580996082182.post-60707736191509778492012-08-31T10:37:17.149-04:002012-08-31T10:37:17.149-04:00After my run this morning, I went by and saw the p...After my run this morning, I went by and saw the plantings in the Kubrick moat. CW Capital will spin this as this was the original intent. I don’t think so. <br /><br />Coming soon to Amazon as a Kindle Edition: "A Patio Too Far” (My apologies to the Cornelius Ryan estate)HAL 9000noreply@blogger.comtag:blogger.com,1999:blog-1837176580996082182.post-4640613311790371022012-08-31T06:40:07.433-04:002012-08-31T06:40:07.433-04:00The conditions here are horrible - they are planti...The conditions here are horrible - they are planting flowers!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1837176580996082182.post-64278417112268593062012-08-31T00:20:21.039-04:002012-08-31T00:20:21.039-04:00Does anybody else find it odd (and perhaps a bit d...Does anybody else find it odd (and perhaps a bit dubious) that in this week's issue of T&V CW spokesman Brian Moriarty is quoted as saying there are "no active discussions with respect to a sale of the property" while the TA just released a video of Meredith Kane (our attorney) saying that they are currently in the negotiating phase with CW Capital? She says this during the final part of the video.<br /><br />As I have mentioned in a prior post, at the beginning of summer the TA said they were going to provide and update on the status of said negotiations which, according to Brian Moriarty, aren't taking place. I'm starting to get a tad confused.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1837176580996082182.post-35737000973222335472012-08-30T22:40:22.647-04:002012-08-30T22:40:22.647-04:00Tommyboy, I don't follow your train of thought...Tommyboy, I don't follow your train of thought. Could you restate that with real sentences, please?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1837176580996082182.post-72273659226744695422012-08-30T22:16:42.144-04:002012-08-30T22:16:42.144-04:00I will be taking pictures!I will be taking pictures!Stuy Town Reporterhttps://www.blogger.com/profile/05538426011607971633noreply@blogger.comtag:blogger.com,1999:blog-1837176580996082182.post-28958641047634508252012-08-30T14:06:28.577-04:002012-08-30T14:06:28.577-04:00Can we talk about Kubrick Cafe again? The finally ...Can we talk about Kubrick Cafe again? The finally filled the outdoor spittoon / latrine with flowers! Juts in time for fall... when they'll be replaced with... CABBAGES!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1837176580996082182.post-3219747222368311572012-08-30T14:02:58.847-04:002012-08-30T14:02:58.847-04:00Doing just the minimal of research, CW is involve...Doing just the minimal of research, CW is involved in 3 similar properties whereas the business plan started with registering all tenants thru the usage of keyless entry cards, next to evict/ re-acquire as many non-market rate apartments to increase revenue. All three failed, have they formulated a new plan, Knapp's presence in the new regime would support this theory. CompassRock's formation earlier this year appears to be a planned business model for big brother CD Capitol to make the selling of the property more attractive with a mgt. team understanding it's days are numbered. To propose a recently formed company with great National ideas? Is qualified for nothing more than a temporary custodianship is outlandish.<br />Thank You<br /><br />Let's hope there is a deal in place and both Rose Associates & Brookfield were pawns in a much bigger play.<br />Tommyboynoreply@blogger.com