Council member Dan Garodnick and Stuyvesant Town
CWCapital Asset Management, the special servicer that controls Stuyvesant Town-Peter Cooper Village, said in a statement today that it will delay mid-lease rent increases for hundreds of tenants. [more]
Stuyvesant Town
A Boston-based online travel company is attempting to draw tenants to Stuyvesant Town and Peter Cooper Village by letting them rent out their homes to tourists, the New York Post reported.
FlipKey, a vacation rental website owned by TripAdvisor, made the offer — $1,000 to anyone who agreed to turn his apartment into a hotel — in a promotion mailed to residents in the neighborhoods. [more]
Stuyvesant Town
Now that the legal fracas over Stuyvesant Town and Peter Cooper Village has finally been resolved, its owners are looking to boost income at the mammoth housing complex before putting it on the market, the Wall Street Journal reported. [more]
F. Scott Fitzgerald’s former villa on the Cote d’Azur
With laundry rooms closed post-Sandy, Peter Cooper Village residents demand rent breaks. JDS Development’s 202 8th Street in Gowanus (finally) hits the market. Developers turn to “sliver hotels” to reduce costs, follow zoning rules. Hey ladies! Women outnumber men in Williamsburg, Upper West Side, according to a gender breakdown of U.S. cities. Click here for these stories and more.
Stuyvesant Town/Peter Cooper Village
Residents of Stuyvesant Town-Peter Cooper Village are fuming again over what was supposed to be a welcome amenity. According to the New York Observer, tenants are up in arms over the return of the complex’s much-loathed ice rink. Stuy Town’s owners installed the rink last year, but tenants quickly grew disenchanted by the crowds, noise and fumes from the generators, and loudspeakers blasting music well into the evening. Tenants are required to pay to use the rink. [more]
Stuyvesant Town/Peter Cooper Village
A new study shows that the of sale of Stuyvesant Town/Peter Cooper Village to the partnership entity between tenants and Brookfield Asset Management would likely offer holders of the property’s first mortgage the best returns. The study, first reported by Crain’s, was undertaken by JPMorgan Securities. The report also found that selling the 11,000-unit rent-regulated complex, which has been in foreclosure since 2010, to the partnership was the development’s most likely outcome. [more]
A William Street New School accommodation facility is one of five New York City addresses making its debut on Trepp’s list of distressed properties in November, according to data from the real estate analytics firm.
New to the 56-item list of distressed properties is Metro Loft Management’s 111,000-square-foot, 17-story building at 84 William Street, currently being used as a student housing facility for attendees of the New School, according to the university’s website. The company is non-performing on a loan beyond maturity, with a balance of $28.9 million, after being current in October, the data shows. (note: correction appended) – Katherine Clarke… [more]
Tenants of Stuyvesant Town and Peter Cooper Village have received an alternative partnership offer just days after it was revealed they had partnered with Brookfield Asset Management to explore buying the properties, Crain’s reported.
A partnership between developer Gerald Guterman and Westwood Capital issued letters to tenants today, reminding them of a proposal Guterman and Westwood sent them in 2010. The duo’s plan involves converting all units in the complex to co-ops, which the tenants would then buy for close to $175 per square foot. … [more]
The tenant association for Stuyvesant Town and Peter Cooper Village voted yesterday to partner with Brookfield Asset Management to explore buying the properties, the New York Times reported. The association is aiming to convert the complexes, with 11,232 apartments in total, into an affordable condominium or cooperative in a plan that could see residents choose to buy their apartments or remain as rent-regulated tenants.
The tenants are hoping that the lenders who control the property, who are represented by CW Capital, will sell it to them rather than someone who may wish to displace the properties’ long-term residents, the Times said. … [more]
There’s an antique collection of storage trunks — and potentially a community of insects and vermin — in the bowels of Stuyvesant Town and Peter Cooper Village. But in its latest issue, the New Yorker reported that property manager Rose Associates has begun sending letters to tenants asking them to claim their belongings, as CWCapital, which took control of the property after Tishman Speyer defaulted, tries to make better use of the space in advance of a sale.
The 110-building complex has offered tenants trunk storage space since the 1940s…. [more]
For NYC real estate updates provide email below
