Due to all the controversy surrounding Stuyvesant Town/Peter Cooper Village lately, the ST/PCA Tenant's Association certainly has a lot going on. Many residents are feeling uneasy and skeptical after the property owners, Tishman-Speyer, defaulted on its mortgage and renters found themselves at the mercy of the senior lender, CW Capital.
Saturday, Oct. 16 the leaders of the TA and Councilmember Dan Garodnick met with concerned residents to speak one-on-one about CWC's upcoming foreclosure sale and other issues.
From 11 a.m. until 2 p.m., Garodnick and TA leaders answered questions about CWC, the property and what residents can expect after ST/PCV is sold. He answered each question as accurately as possible, while conceding that there is no guarantee either way for what will happen to the complex. Still, he stressed a positive outlook.
“We are making sure you are rewarded for long-term residency,” Garodnick said. “We want whatever works best for the tenants.”
TA leaders were also available to answer questions. Steven Newmark, a member of the TA for four years, wanted to help explain the details of the foreclosure and what it means specifically for residents, which can be difficult to understand.
The TA also wanted to reach out to residents that were perhaps not familiar with the association. By wearing bright yellow t-shirts, members of the TA got the attention of many curious residents and were even walking around the Stuy Town Oval, trying to meet as many residents as possible.
Although some residents asked for general explanations, others were concerned about specifics. One man asked if CWC had an obligation to auction off the property within a certain amount of time. Garodnick said that although he expects the sale will happen as quickly as possible, only CWC has the power to make those decisions.
Another concerned resident, Howard Freimark, asked TA President Alvin Doyle many questions that, according to him, he had wondered about for years. For example, he wondered if Stuy Town residents would be responsible for any legal fees that accumulate during the foreclosure and sale process. Doyle responded by saying he understood the concern, but again, there is no guarantee for what will happen.
Along with answering questions for tenants, the TA wanted to remind everyone of the upcoming tenants’ meeting on Saturday, Oct. 30 at 1 p.m. The event, which will take place at Mason Hall at Baruch College on East 23rd Street, will feature a variety of speakers. Along with Garodnick, residents will hear from Congresswoman Carolyn Maloney, State Senator Tom Duane, updates from the TA legal team and financial advisors and many, many more.
For more information about this meeting or to make reservations for the event (which is strongly recommended because the last tenants’ meeting was so packed, that about 200 residents were actually turned away), call the TA message center at 1-866-290-9036 or visit http://stpcvta.org/octobermeeting.
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