By Sabina Mollot
John Sheehy, treasurer of the ST-PCV Tenants Association, recalls exactly the moment when he learned of The Blackstone Group’s interest in Stuyvesant Town.
Sheehy, who has a summer home in East Hampton, has a neighbor in Blackstone’s AJ Argarwal, a senior managing director in real estate. Though they didn’t know each other particularly well, one day they happened to see each other as Argarwal was pulling into his driveway with his wife and Sheehy asked Argarwal if he had any interest in Stuyvesant Town.
His response: “Of course,” recalled Sheehy. It wouldn’t be until a year later, though, when the two men actually met again on the subject of Stuyvesant Town.
This was when he’d arranged for Agarwal, whom he called “a pleasant fellow,” to meet with then-Council Member Dan Garodnick at his midtown office. This was in October 2014, and the Tenants Association still had hopes of going condo.
But CWCapital hadn’t yet shown any interest in that plan.
“CW was saying, ‘We’re not ready to sell, and what’s all this talk about selling?’”