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

Florida veteran Rick Hayduk to oversee 11,200-unit complex 

TRD New York /
Jan.January 07, 2016 08:00 AM

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.


Related Articles

Blackstone CEO Steven Schwartzman and Stuyvesant Town (Credit: Getty Images)

After authorities vowed review of Stuy Town deal, Blackstone changes course on vacancies

Blackstone's Jonathan Gray and an aerial of Industry City (Credit: Getty Images and Google Maps)

Industry City gets $720M refinancing

From left: Blackstone's Jonathan Gray, Joseph Simone of Simone Development and 535 Zerega Avenue in the Bronx (Credit: Google Maps, Simone Development)

Blackstone buys Bronx warehouse for $29M from controversial carter

Canarsie Plaza and Blackstone’s Kathleen McCarthy (Credit: Google Maps and Blackstone)

Blackstone picks up Canarsie shopping plaza for $130M

Blackstone Chairman Stephen Schwarzman (Credit: Blackstone via YouTube)

It will make you laugh, it will make you … cringe: Blackstone’s latest holiday video

Jonathan Gray

Moving out: Blackstone sells remaining stake in Invitation Homes

Blackstone's Jonathan Gray (Credit: Getty Images and iStock)

Here’s a look at Blackstone’s industrial plays after its record-breaking portfolio purchase

From left: Jonathan Gray and Steve Schwarzman with Stuyvesant Town

Behind Blackstone’s “capital strike”