Statement of Council Member Dan Garodnick on CW Capital's Decision to Change the Management in Stuyvesant Town and Peter Cooper Village

The residents of Stuyvesant Town and Peter Cooper Village continue to be weary of the ongoing change that the property is undergoing, and hope to put our community on a more stable footing into the future.  

CW Capital announced that they are replacing Rose Associates with CompassRock as the property manager as of September 1.  While CW Capital has no incentive to allow for there to be any deterioration in maintenance through this transition, CompassRock is only a year old, and is untested with a property such as ours.   We all need to be vigilant to ensure that tenant concerns are being addressed in the most effective, professional way possible.

I have spoken with Commissioner Matthew Wambua of the New York City Department of Housing Preservation and Development (HPD) to notify him of the new management company, so that the city is on alert for any disruptions in service or quality of life changes.  While I have been assured by senior management at CW Capital that there will be a smooth transition, in a community of our size and scale, it is important for our partners in government to be on notice about such a change.  

We certainly hope and expect that CompassRock will work with us during this interim period to improve the variety of quality of life issues that exist.

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