NEW YORK CITY—Less than a month after the record multi-billion dollar property purchase closed, the new ownership of Peter Cooper Village/Stuyvesant Town has formed a new property management company to oversee the 80-acre property that features more than 11,200 apartments in 56 residential buildings here.

Blackstone, through funds it manages on behalf of its real estate investors, and Ivanhoé Cambridge closed on the purchase of Peter Cooper Village/Stuyvesant Town last month in a deal valued at $5.45 billion. Today the new ownership reports it has established a new property management company that will be led by newly appointed general manager Rick Hayduk.

The former president of the Boca Raton Resort & Club was appointed general manager effective Jan. 1 following a transition from current property manager Compass Rock.

"We are pleased to announce Rick's appointment as PCVST's new general manager," says Nadeem Meghji, senior managing director in Blackstone's Real Estate Group. "We've listened extensively to the tenants and community and have taken their feedback into account as we build a new property management company under Rick's leadership. Rick has worked with Blackstone properties for almost a decade and is someone we know well and trust. We are confident he is the right person for this role."

Hayduk, who has more than 30 years of hospitality and property management experience, joins PCVST from Boca Raton Resort & Club where he was responsible for the 350-acre resort, its 1,047 hotel rooms and 3,400-club member families. Previously, he was regional managing director of South Seas Island Resort and the Inns of Sanibel. He will be the first general manager to live at the property since it was owned by MetLife.

Instant Insights /

Blackstone Opens Stuy Town Mgmt. Firm

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