Don’t Move to 70 Greene Street

Update: May 4th, 2010

We were one of the first tenants in the building when it opened last summer. We were promised that the pool and gym (twoof the main reasons that we selected this property) would be open before summer’s end. This promise continued month in and month out. The pool wasn’t opened until labor day weekend. We used it once. Throughout the year we experienced innumerable issues with the building. Leaks, fire alarms constantly, flooding in the gym, the lobby and consequential mold, a horrible smell coming from our office that we were eventually told was from the ‘garbage chute on the higher floors.’ Our washer had to be replaced three times. Throughout all of these issues, we still kept a smile on our faces and particularly enjoyed the doormen. We thought that because the price was ‘fair,’ that it was worth the hiccups. That was until yesterday. We received our lease renewal letter only to find that the ‘fair’ monthy rent had been increased more than $700 – or 30%. Before moving to 70 Greene, I had lived in Portside Towers, another Equity Property, for 3 years. I can’t think of how much money I have poured into them over the past 4 years. We feel robbed. After expressing concerns, I was told that, ‘2 other tenants renewed at this rate.’ Well, thanks – I’m thrilled for them to be able to easily give up another 700 a month without blinking in this horrible economy, but unfortunately, it doesn’t help us. How can this be legal?