FAQs - BLACKSTONE TRANSITION
We are pleased to announce that Blackstone and Ivanhoé Cambridge have officially assumed ownership of Peter Cooper Village Stuyvesant Town.
Over the past two months we have received a tremendous amount of feedback from residents; for this we thank you. Know that we look forward to working with the StuyTown (formerly known as PCVST) residents and the Tenant Association on improving the quality of life and sense of community at StuyTown (formerly known as PCVST).
Blackstone will be welcoming in the New Year with some announcements based on those conversations in January.
Please see FAQs below for residents and prospects:
Does the Payee on my rent check change?
Yes. Please make all rental payments payable to the new ownership entity:
- For residents of Peter Cooper Village: BPP PCV Owner, LLC
- For residents of Stuyvesant Town: BPP ST Owner, LLC
- If you use an online bill payment program from your bank, please be sure to update the payee name. If you pay through the StuyTown Resident Connect Portal (formerly known as the PCVST Resident Connect Portal), no change is required.
Where should I send my rent?
Continue to use the drop boxes on property, mail checks to the same PO Box, or make a payment online.
Will the rent that I pay change?
No. Your rent will not change as a result of the sale. In all cases, your current lease, the rent you pay and any renewal offer currently pending remain subject to all Rent Stabilization Laws and the terms of your lease.
Will the term of my lease change?
No. Your lease term will not change as a result of the sale.
How does this affect my renewal?
All currently outstanding renewal offers remain valid and unchanged. Residents who wish to accept these offers can sign their renewal paperwork and return it to the Renewals Team. If you wish to discuss an outstanding renewal, you can contact the Renewals Team at the contact information included in the renewal offer letter.
Will my lease still be rent stabilized?
All leases will continue to be rent stabilized.
If I am receiving SCRIE/DRIE credits, will they be impacted?
No. SCRIE/DRIE credits will not be impacted by this change in ownership.
How will resident and essential services be impacted by the sale?
There will not be any impact to resident and essential services through the sale period due to the sale. The same high level of service will continue for residents.
Will property contacts change?
No. Please continue to contact the Management Office at 212-420-5000 as you currently do for all maintenance, accounting and other property-related requests.
How can I participate in the Affordable Program?
We expect the Affordability Program to launch in early 2016. As soon as the marketing period for the lottery is launched, we will provide specific details and instructions for residents to enter the lottery.