[Image via Streeteasy]
Residents of 615 E. Sixth St. returned home last week to discover notices on the front door of the building between Avenue B and Avenue C... noting that there's a new landlord...
There are two letters. One — addressed to Dear Sir or Madam — is from the now-former owner, E&H Members LLC ...
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The other letter is from the new landlord, A.D. Real Estate Investors, a company that we don't know too much about...though they do have an email address for residents to use in case of an emergency...
This transaction has yet to hit public records. Any residents of this building have more details on the transition (via the EV Grieve email)?
H/T Dave on 7th!
This ADRE Investors owns several walk up buildings in Manhattan, they renovate and upgrade the buildings as much as possible inside and out. They renovate vacant apartments and upgrade everything in the apt. Then they charge higher rents. They will often completely redo the lobby/stairwell/walls/laundry/everything. The buildings are quite nice after they finish, they look great
ReplyDeleteBut they are still very cramped walk up building apartments. They charge a lot of rent because the buildings are in hot areas like LES, Chinatown, Noho, Kips Bay, Gramercy etc. where a college trust funder will spend the bucks and there is now insane demand. Yes, office is in Great Neck but most of their property seems to be in the Manhattan. Don't know their history with treatment of longtime rent stabilized tenants but assume there is going to be some construction going on inside any building they buy/manage.
The blatant disrespect is simply breathtaking. For E&H to not give their tenants the palest simulacrum of a hint that this change was in the offing, and to not even care enough to send individually named letters - I mean, this is a walk-up, not Co-op City - instead of generic Sir/Madam missives, highlights how very little tenants matter any more, if they do at all.
ReplyDeleteAn "email" address for emergencies.
ReplyDeleteHaha. Whatever happened to a super with a phone?
"college trust funder"
ReplyDeleteI see this phrase thrown around on this site all the time. Have you people ever met well-paid professionals in NYC? Most of them don't have trust funds.
What the fuck were you expecting? A fruit basket and an in-person handshake? Perhaps dinner and a personalized serenade?
ReplyDeleteAlso, do you know how rare actual college trust funders are? Most kids in college are feeding off debt and will likely be living with it for a very, very long time. Or is there a special contact lens that I don't know about which lets you see the source of people's funding?
I previously lived in an ADRE buliding (379 E 10th) for 3-4 years and they seemed to be fairly responsive and decent landlords for the most part.
ReplyDeleteOur building on 2nd Street was sold to ADRE back in October... Exact same deal. We returned home from a few days out of town to letters taped to everyone's door and throughout the building telling us it had been sold two days prior. Odd, but they seem nice enough.
ReplyDeleteLots of construction, but the building was in rough shape (common areas, etc.) so I can't complain too much. Not sure what will happen come lease renewal time though. I don't think they've made any upgrades in individual apartments aside from video intercom installation.