Blackstone, Ivanhoe launch own property management firm to run Stuy Town

The Blackstone Group and Ivanhoe Cambridge opted not to hire an outside firm to manage Stuyvesant Town-Peter Cooper Village. Instead, they will launch their own property management firm.

Rick Hayduk, who until recently managed the Boca Raton Resort & Club in Florida, took over as general manager of the 11,200-unit complex on Jan. 1, two weeks after closing on the acquisition for $5.3 billion.

Town & Village first reported the news.

“We’ve listened extensively to the tenants and community and have taken their feedback into account as we build a new property management company under Rick’s leadership,” Blackstone’s co-head of U.S. acquisitions Nadeem Meghji said in a statement. “Rick has worked with Blackstone properties for almost a decade and is someone we know well and trust.”

According to the statement, Hayduk will live in the complex. “My wife Carol, our two daughters and I are excited to join the PCVST community and we look forward to getting to know our neighbors,” he said.

Hayduk is taking over from CompassRock, the property management arm of special servicer CWCapital, which had been managing the property since 2012.