Earlier, we took a tour of the two new model units in Stuyvesant Town, the so-called "Modern" style of renovation developed over the course of a year by designers at Cetra/Ruddy for new market-rate rentals in the megacomplex that will be priced slightly higher than "Classics." Cetra/Ruddy also outfitted a 2BR model unit in Stuy Town's brother to the north, Peter Cooper Village, where apartments are bigger and rents currently start at $3,275 for 1BRs, and $4,450 for 2BRs (there are also flatscreen monitors in the lobbies, but Stuy Town buildings will be getting those soon). Factor in an additional 5%-6% in monthly rent for a Modern unit at Peter Cooper Village, and yeah, these get expensive. We decided to break out the PCV model into a separate gallery because it's pretty different than Stuy Town's housing stock. For example, the bedroom above. That's a king size bed in there, and there's still room for a sitting area, additional furniture and the shame you're harboring because your rent-stabilized neighbors are probably paying 1/10th of what you are. But they won't be getting the custom sconces! Have a looksie.
· Peter Cooper Village [petercoopernyc.com]
· Curbed Inside: Stuy Town Goes Modern (No, Really!) [Curbed]
Curbed Inside visits the interior of a structure with an eye towards revealing the design and architecture. Got a place for us to check out? Drop a line.
Change is not looked at very fondly at Stuyvesant Town and Peter Cooper Village, the largely rent-stabilized megacomplex on the East Side between 14th and 23rd Streets. New owner Tishman Speyer, which bought the 110 buildings for $5 billion in 2006, knows this all too well. Start landscaping, and parody blogs get launched. Tweak the pet policy, and the oldtimers get downright ornery. But Tishman's goal is to make money off this thing, so the company has not been afraid to do what it takes. Since taking over the property, 3,800 market-rate rental apartments have been renovated in an effort to draw in young professionals who can afford the $2,750/month and up rents. But it hasn't worked, at least not to the extent Tishman would like, so they headed back to the drawing board.
1) The co-owner of Williamsburg hotspots Union Pool and Hotel Delmano pays $3,000 per month for his rental in Bushwick. What the hell kind of place charges that much in Bushwick? Oh, just a castle thingy with "OFFICE" inscribed on the front that has a cobblestone pathway that leads to a stable in the back. Yeah, it's pretty awesome. [The Hunt/Joyce Cohen]
2) After some initial sales troubles, the Stanhope Residences995 Fifth Avenue has sold 24 of its initial 26 co-ops, and all nine maids' rooms. Which means they sold three more in the last couple of months. The latest buyer is Daphne Guiness, beer heir and "haute-couture socialite." The $47.7 million full-floor penthouse is still on the market, if any Coors family members want to step up to the plate. [Big Deal/Josh Barbanel]
3) A basement storage room in the Dakota on the Upper West Side recently went up for sale, and eight residents bid on the space, including Yoko Ono. The winning bidder was John M. Angelo, a hedge fund manager and board member of Sotheby's, who paid $801,000 for the storage space, perhaps the most expensive sale of its kind in Manhattan history. Yes, a glorified locker sold for more than the average one-bedroom apartment. What slowdown? [Big Deal/Josh Barbanel]
In what is just the latest twist in the recent bizarre history of Stuyvesant Town/Peter Cooper Village, a group of tenants are mounting a campaign to win the 110-building complex landmark status. And that campaign is kicking off with a square dance. If the movement gains momentum, this could be a classic showdown. Sure, Stuy Town is an important historical artifact of Manhattan's once-existent middle class, but think about the ulterior motives at play here. Rent-stabilized tenants are living in fear (if the forums are any indication) of what changes new landlord Tishman Speyer will impose next, and a landmarking could protect the grounds and buildings and prevent, for example, a luxury all-glass condo building plopped down on the Stuyvesant Oval. On the other hand, Tishman Speyer would probably just blow the whole place up on the eve of the designation if the winds were blowing in that direction. So grab your partner, swing her 'round, and get this craziness off the ground!
· Let's Landmark Stuyvesant Town [stpcvta.org]
· Stuy Town Follies: Here Comes the Cavalry [Curbed]
· Stuy Towners Debate What's Ruining Their Lives More [Curbed]
If you thought dogs were going to be the biggest controversy at Stuyvesant Town/Peter Cooper Village this year, think again! You see, Councilman Daniel Garodnicka PCV residenthas a little beef with new landlord Tishman Speyer: they just won't stop harassing rent-stabilized tenants! Garodnick told the Observer this week that in Tishman's crackdown on illegal sublets, they're going after a lot of people who have done absolutely nothing wrong. Garodnick claims non-renewal notices have gone out to many innocent Stuy Town/PCV oldtimers, many of whom may have cleared out because they didn't know better (or because they were terrified). He's calling for a moratium on these non-renewal notices until this all gets sorted out, and now some high-profile friends are joining him.
Earlier this month, newish Stuyvesant Town/Peter Cooper Village owner Tishman Speyer changed the massive 110-building complex's long-standing pet policy, which was, basically, no pets allowed. Cats had always been secretly tolerated, but dogs have been a no-no. Now, for a one-time $250 fee, residents can own a pet but must adhere to a very strict policy (i.e., no animals on the grass, in the play areas, off the paths, etc.). Needless to say, longtime residents (Stuy Town is still about 60% rent-stabilized) were not pleased about the change. But less than one month into the new pet policy, how is it going? NOT WELL!
On the Stuyvesant Town/Peter Cooper Village Tenants Association message board, a note was posted to try and rally support amongst the anti-dog faithful. An excerpt: "We will now have sidewalks like the rest of the city with puddles of urine and smears of dog poop." This has led to an epic message board thread in which residents debate what facet of the new-look ST/PCV is plaguing them most: dogs, "MRs" (market-rate renters) or the 250 graduate students that NYU houses in Stuy Town. It's quite the read!
Stuyvesant Town and Peter Cooper Village, friends, is more than just a grim backdrop to your brand new rooftop pool. There's been a lot of change at ol' Stuy Town since Tishman Speyer purchased the mostly rent-stabilized 110-building complex for over $5 billion in 2006, and those changes keep on coming. In yesterday's CurbedWire, a Stuy Town resident pointed out the sudden change in the pet policy, where a one-time $250 fee can now net you the loyalty and companionship of a dog. Said our tipster: "Is this yet another move by Tishman to generate revenue and fill empty spaces? Recent City Council newsletter read that as many as 5 buildings worth of homes are currently vacant." Perhaps, because the Postreports today that Tishman Speyer is now offering one free month of rent to entice new market-rate tenants to jump into grassy green living. According to "insiders," the vacancy rate is hovering between 5 and 10 percent, whereas Manhattan's overall vacancy rate is less than 2 percent. Maybe the Happy Holidays, You're So Fucked memo didn't go over as well as planned?
· Free Rent for Stuy Towners [NYP]
· CurbedWire: Baseball's Box, Stuy Town Goes to the Dogs [Curbed]
· CurbedWire: Elliman Party Crashing, Stuy Town Discount, Screwy Factory [Curbed]
EAST HARLEMJust a bat toss away from Jared Kushner's crumbling building near Park Avenue and 124th Street, the MLB-housing Harlem Park is getting ready to rise. A tipster snapped the above picture and writes, "Just wanted to let you guys know that Harlem Park looks to be moving along closer to groundbreaking. There have been trucks in the space doing soil samples the last couple days." Play ball, or something. [CurbedWire Inbox]
STUYVESANT TOWNA number of Stuy Town/Peter Cooper Village renters forwarded us the memo regarding a change in the massive complex's pet policy. One tipster wrote: "I thought I'd let you all know of the latest ST/PCV development. After a pay-membership gym, opening up 'Garage 1' as pay/public parking, they're now allowing pets! Read: Dogs. Cats occupy many, many apts as they were allowed 'under the radar' by previous management. According to the info, market-rate tenants must pay a $250 per pet fee at the time of pet registration. Is this yet another move by Tishman to generate revenue and fill empty spaces? Recent City Council newsletter read that as many as 5 buildings worth of homes are currently vacant. Regardless, a sad day for residents who appreciate the lack of dog activity in and around the complex." [CurbedWire Inbox]