Stuyvesant Town, a residential community located near campus, recently underwent a big change. On Sept. 1, the management at Stuy Town and Peter Cooper Village changed hands from Rose Associates, Inc. to CompassRock Real Estate, which are both subsidiaries of CWCapital.
CompassRock already manages a few other multi-family properties in Manhattan, but has never managed a residential community the size of Stuy Town until now.
According to city council member Dan Garodnick, who represents the residents of Stuy Town, the effects of the management transition are yet to be seen.
“The jury is still out about the transition,” councilman Garodnick said. “The new management company is unknown and untested. We have to be vigilant to make sure that there is no decline in maintenance.”
CWCaptial, however, assured that the transition to the new company would be seamless. In a statement, Managing Director of CWCapital Andrew MacArthur assured that operations would improve at Stuy Town.
“CompassRock will bring deep institutional experience and national-best practices to the management of the property,” MacArthur said. “In connection with the on-site team, we look forward to a continued focus on improving operations and services for our residents.”
Steinhardt junior Elizabeth Kryshak is one of the many NYU students licing in Stuy Town. She confirmed the transition is minimal so far.
“From what I have seen thus far in living here for approximately three weeks, I think that the entire complex is run very well. Kryshak said , “It is a very clean and safe space that has a wide variety of residents of all ages. I know that we received a brief, standard letter in the mail in regards to the management switch, however, there has not been anything more direct than that.”
Stuy Town resident Sofia Black-D’Elia agrees that the management continues to be supportive.
“I can say that management has been helpful and attentive throughout our move, always available for any questions we have,” Black-D’Elia said. “The building seems to be in good condition.”
However, according to Garodnick, there have been many changes in Stuy Town in the past few years, and residents aren’t looking forward to another.
“Residents are wary because there has been so much change in the community for so long,”
Garodnick said. “They’re looking to live in a stable environment.”
A version of this article appeared in the Tuesday, Sept. 11 print edition. Claire Zajdel is a deputy city/state editor. Email her at [email protected].
