Stuy Town’s new “ahead of the game,” yet “strange,” marketing strategy

You thought you knew Stuy Town? Think again

Jun.June 02, 2018 05:18 PM

(Credit from left: U.S. Air Force photo by 2nd Lt. Meredith Mulvihill, Wendel Fisher)

In a bid to attract market-rate tenants, Stuy Town is getting a little bit weird.

The development has outfitted a 22-foot-long truck at a cost of $150,000 to serve as a kind of display home-on-wheels in a bid to attract a new crowd, according to the New York Times.

Driving aroun dmostly in Brooklyn–and particularly neighborhoods that will affected by the L-train’s shutdown– the truck is supposed to allow leasing agents to give interested parties impromptu tours of the transparent truck, which has been renovated to resemble Stuy Town’s typical one or two-bedroom units.

“A lot of this is about the cool factor,” said Rick Hayduk, the CEO of Stuy Town’s property manager, StuyTown Property Services, to the Times.

The truck has been in service since late April at a monthly cost of about $100,000 and, though it hasn’t been proven to generate any new leases so far, StuyTown’s chief operating officer Kelly Vohs says the boost to the development’s reputation has already been worth the expense.

“We want people to see the truck and think, ‘A company that is going to do that, that’s clever, that’s not what I thought about StuyTown,’” Vohs explained to the Times. “It’s a very noisy media landscape. How can we be different from what else is being done?” [NYT]Erin Hudson

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

Zillow CEO Rich Barton (Credit: iStock)

Zillow and Opendoor aren’t making much on home-flipping

This week, the State Department of Taxation and Finance issued a new memo that notably made no mention of condos. (Credit: iStock)

Regulators quietly change stance on condos in LLC law

Realogy CEO Ryan Schneider (Credit: iStock)

Realogy’s plan to stop the iBuyers from gaining a foothold in Chicago

Daily Digest Thursday

Worker killed at Lam Group construction site, Uber signs WTC lease: Daily digest

Developers are offering to pay the increased mansion and transfer taxes to give them an edge in a difficult market. (Credit: iStock)

Amid slow sales, developers give buyers a break on mansion taxes

Triplemint’s David Walker and John Scipione with Hoboken, New Jersey (Credit: iStock)

Triplemint expands to New Jersey

Brokerage firms are strategizing ways to make up losses after the cost of application fees was capped at $20. (Credit: iStock)

Brokerages on rental application fee cap: “It hurts”