StuyTown Property Services’ new COO Kelly Vohs, CFO Andreas Spitzer and Rick Hayduk, CEO (Photo by Sabina Mollot)
By Sabina Mollot
Stuyvesant Town Property Services, the now year-old subsidiary of Blackstone created for the management of Stuyvesant Town and Peter Cooper, has recently completed a round of hires, including two in upper management.
One is new chief financial officer Andreas Spitzer, who previously served as CFO of the American Farmland Company, which he helped sell. He also worked for three years at retail REIT Equity One and four years at the New York City Housing Authority, where he served as CFO. He also spent 10 years as a mergers and acquisitions banker.
Spitzer has spent the last six months since getting hired by SPS conducting internal audits, which hadn’t been done on the property in over seven years.
The other hire, who started last week, is chief operating officer Kelly Vohs. Like SPS chief executive officer Rick Hayduk, Vohs has worked extensively in the hotel and resort industry. He is also an Army veteran who served in Iraq.
Let me state at the outset that I like Joseph Strasberg a lot. I have known him for something like 40 years. He used to live in Stuyvesant Town when I did. He is smart and he is savvy, and an all-around good guy. So who is Joseph Strasberg?
Joe is the long-time president of the Rent Stabilization Association (RSA). Their slogan is “we house New York.” They represent hundreds of rent regulated building owners throughout New York City. Much of Stuyvesant Town and Peter Cooper Village remain under the Rent Stabilization law. As such, thousands of tenants in our community are subject to the Rent Guidelines Board (RGB) annual determination regarding rent renewal amounts for leases expiring in any given year.
For the past two years those increases have been small, just about two percent for a two-year lease and zero percent for a one-year lease renewal. In essence for tenants who have opted for one-year lease renewals their rent has been frozen for the past two years. Good news for tenants, but is this unfair to owners? Well Strasberg and the RSA say “for sure!” In fact, as was reported in the T&V, they went to court to petition a judge to overturn the RGB’s freezing of rents. They argued it was arbitrary and capricious and challenged the independence of the board from the political influence of the mayor. Strasberg averred in his court filings that the current mayor had “corrupted” the process. Strasberg and the RSA lost.