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Friday, August 8, 2014

Churn, Baby, Churn!

The new "Broker Welcome Center" on 1st Ave, approved by CWCapital because they're desperate.



38 comments:

Anonymous said...

What is a Broker Welcome Center?

Anonymous said...

I can smell the cheap cologne from here.

Anonymous said...

I don't understand - they took a space the usually is rented out to generate income and are using it for brokers open houses for the condos?

Tommyboyardee said...

Try keeping a Broker out of anything!

Anonymous said...

These ARE desperate times indeed.

Anonymous said...

Feels as if some kind of fight is coming up. Feels as if CW is trying to consolidate its position in anticipation.

Anonymous said...

Churn is the name of the game.

ID LIKE TO KNOW WHAT MR TENANTS are getting for renewals. And IF IT'S LIKE MINE, ANTHER $250 a year, IS IT LEGAL? REAL RENT IS Bullshit.

Anonymous said...

Condos? what condos 6:56? ST PCV IS a rental property.

Anonymous said...

It is a preemptive strike in the DiBlasio negotiations for affordable housing to demonstrate the private sector will be harmed. If CW can show that brokers are filling up these vacancies there are fewer lower rent units available to preserve.

Anonymous said...

"ID LIKE TO KNOW WHAT MR TENANTS are getting for renewals. And IF IT'S LIKE MINE, ANTHER $250 a year, IS IT LEGAL? REAL RENT IS Bullshit."

I suspect you mean $250 a month.

Here's how it works.
1. There is a legal rent set for your apartment. It's probably in the stratosphere--above market rate. Your lease states what the legal rent is.
2. You are probably paying less than the legal rent--what's known as a preferential rent (called "Lower rent to be charged" on your lease).
3. On renewal, your rent can be increased up to the legal rent. Management can choose to increase it for less, however, and you will still be paying a preferential rent. There seems to be no consistency in how they determine increases that are less than the legal rent.
4. The legal rent will now include any increase due to approved MCIs and the increase determined by the Rent Guidelines Board. The RGB increases vary from year to year and go into effect on October 1 each year. For example, leases renewing starting October 1, 2014, can be increased by 1% for a one-year lease and 2.75% for a two-year lease.

Anything management wants to charge you up to the legal rent is legal. That's why it's important to understand the lease you sign from the get-go. Management's practices smack of bait and switch, and they're not unhappy if you decide to move out. That will give them the opportunity to get a 20% vacancy increase and raise the legal rent still further.

Stuy Town Reporter said...

The above should be handed out to any prospective renter here who may want to stay long-term.

Anonymous said...

What does Preet Bharara think of contractors who rip off people with massive overcharges?


"A contractor for the city Department of Education was busted for allegedly scamming the city for more than $1 million with massive overcharges — including billing the city $572 for circuit breakers that cost a measly 18 bucks.

Derval (Eduardo) Lazzari, 54, also had his companies charge the city $157.50 a pop for over 8,000 non-existent “carbon dioxide” tests on refrigerators, federal prosecutors said.

The Queens man “cheated...

Read more: http://www.nydailynews.com/new-york/nyc-crime/contractor-scammed-city-1-million-feds-article-1.1896655#ixzz39vDkVWQV

Time to get the $100,000 per apartment - millions$ per building renovation contractor investigated / audited

Anonymous said...

2 48 is so spot on. But DID ALL TENANTS FILL OUT A FORM RA89.

RA 89

GETS YOU NOWHERE - big f__ing scam. Try it.

Tommyboyardee said...

If your happy with your apartment, they feel you will not want the hassle of relocating. Ergo once your lease is up, you get jacked to the legal rent allowable. If you move, the hamster treadmill begins again, upgrading an apartment for the umpteenth time, resetting the legal rent, if it rents fine, if not offer a discount and the CW cycle begins anew!
Imagine when the run out of things to upgrade, expand the apartment? Balconies, of yeah when pigs fly.

Anonymous said...

The DHCR approving increases that landlords submit on the "honor" system is just another gift from Pataki/Bruno cabal to their RE industry patrons. That, and vacancy decontrol.

Thankfully, they're both long gone. But we've had 3 Democrats in the governor's chair since then and nothings changed. Money talks, all right...

Unless there's a massive popular push to repeal Urstadt that the pols can't ignore, the RE industry vultures will continue to pick at the shrinking carcass of Rent Stabilization until there's nothing left

Anonymous said...

Yes str (2:05)

IT SHOULD BE NOTED REPEATEDLY TO NEW TENANTS THAT THE RENT paid @ sign in is NOT THE RENT THEY'll PAY IN A FEW MONTHS or anywhere near that upon RENEWAL. Snakes in the grass this landlord of ours. Snakes in the grass. TELL THE FUTURE VICTIMS THE TRUTH ABOUT THE ILLEGAL CHARGES TO THE MR TENANTS.

Anonymous said...

Hasn't the leasing office's mantra always been 'walk right in, no brokers needed'? If so, why are they encouraging brokers? Anyone using one will pay an additional $3000 to partake in the bed bug induced fratmosphere that is Stuy Dump - A Keg Rolls Through It.

Anonymous said...

5:47 Surely you jest. They WILL NEVER run out of things to upgrade.

We'll be paying for the terraces, the plumbing the music, the weedwackers, the flowers, the fake security,

mci mci mci mci. Compass R is not stupid & neither is CWC. We are the dumbasses.

Anonymous said...

why would they not use brokers, i mean the more the merrier. suckers come one come all. many tenants have their companies pay for the housing and / or broker and perhaps our Landlord has made a deal with brokers. why wouldn't they?????

Anonymous said...

Lease or no lease, they will raise the rent on you. You've been warned!!!

Anonymous said...

NYU uses brokers to get students in here.

Anonymous said...

Time to write to Preet (someone posted his address earlier on this blog)

And write to the NYAttorney General.

Same letter.

Please audit the contractor who renovated my PCV ST apartment that I am being overcharged, gouged on. I filed the proper forms on the overcharge with DHCR and am in need of assistance from a higher authority. This is occurring on a massive scale to this community with over 5000 apartments incurring gross overcharges and infinite tenants as the overcharges remain and increase forever.

New York Attorney General
State of New York
Office of the Attorney General
The Capitol
Albany, NY 12224-0341

STR I couldn't find the links to the address for Preet - could you help with that?

Anonymous said...

I'm assuming our slimy Councilman knows about all these abuses, but he doesn't raise a whimper.

Anonymous said...

Everyone victim of the bait and switch and or gouging high increases at renewal write to the Attorney General and write to Preet Bharara.

Short letter.
RE PCVST Leasing Practices Bait and Switch
Rate at Signing:
Rate after XX months:
Rate at renewal:
A line or two on your personal experience that did not hold true.
(If you told Compass Rock you want a long term lease eg for kids in school system, and they gave you impression this is the place for you then gouged you that is even more disgusting.) They don't care.
Whether you already moved or you renewed, you should not be victim of these practices.
Cost is a stamp and two minutes of your time.

Anonymous said...

They will never be able to fill the 6000 jacked up market rate apartments with anything other than transient hotels and dorms. Quck fixes will not solve the problem. The only solution for long term community sustainability is for the city to take possession of this corrupted middle class community and restore the RS rents to their 2005 pre-Tishman amount.
Wghile they are at it they should put the debt responsibility where it belongs on Tishman and not on this crumbling community.
Tishman should shoulder the debt out of their petty cash - it is so insignificant to Tishman it wouldn't even hurt their friend Robbie and he should pay the debt. (and be arrested but that would take Politicians of courage who have clean hands in this and we seem to be lacking in that area).

Anonymous said...


Got a complaint about a contractor and their charges and work on your home?

http://www.ag.ny.gov/sites/default/files/pdfs/publications/Contractor_Tip_card_web.pdf


Contact

New York Attorney General

www.nyknowyourcontractor.com

Its your apartment, your home, and you are paying the charges. Get your money back!




Stuy Town Reporter said...

>>The only solution for long term community sustainability is for the city to take possession of this corrupted middle class community and restore the RS rents to their 2005 pre-Tishman amount.

While they are at it they should put the debt responsibility where it belongs on Tishman and not on this crumbling community.
Tishman should shoulder the debt out of their petty cash - it is so insignificant to Tishman it wouldn't even hurt their friend Robbie and he should pay the debt. (and be arrested but that would take Politicians of courage who have clean hands in this and we seem to be lacking in that area).<<

Exactly!!!

Anonymous said...

Residents should not be paying for the NYU security installations to bring PCVST up to NY law on campus security and Residents should not be paying for water valves installed for the NYU population increase in crap! Those MCI charges must be repealed!

Anonymous said...

11:17 AM: That is EXACTLY what should happen, but it would take politicians with balls and consciences as well as a full-scale investigation into the abuses committed by TS, CW and the rest of the slimy bunch of white-collar criminals.
Tishman Speyer has shown itself to be one of the dirtiest, filthiest and most corrupt entities to ever pollute the landscape. Remember, that Robbie is practically married to our loathsome Governor.
I am not optimistic that much will change around here.

Anonymous said...

STR you are so right. What a sad thing our city and COUNTRY is. Real criminals walk away with millions, no fines and worse - no wrongdoing. Wow.just wow.

Anonymous said...

I need Preet's address. Better yet, can a site be set up to report this bullshit increase, lies and phony 145k charges for painted floor and cabinets? Really shameful.

A site or a complaint office.

Anonymous said...

1:17 yes Robbie is married to our Governor and Dan and Susan and governor's running mate Hochul too. All in the same bed together.

Anonymous said...

DAMNIT

SET UP A NEW TA. THIS IS BULLSHIT. Damn mci, damn rent incrases, fake phony leases, noisy students.

LET'S START A NEW GROUP. dammit.

Anonymous said...

"Remember, that Robbie is practically married to our loathsome Governor."

Incorrect.

Robbie owns our loathsome Governor, who is a closet GOP.

Anonymous said...

disappointed robbie also threw the private intimate birthday party for mayor de blasio.
how could de blasio do this after all he said while campaigning?

Anonymous said...

Agree & also on board with new TA and complaint office I would like a full investigation done on the phony charges CWC of so called new renovations - Market R ate tenant.

Anonymous said...

You were expecting an honest and decent democrat as our mayor?

L M A O

Anonymous said...

Vomit in the park
That is what we are
Sail away with me
To another bar
And scream wooooooooooo!