Rose Associates has recently issued leases to the tenants in its buildings(namely the Madison Belvedere on 10 E. 29th Street) at a 3% increase and then, even after these leases were returned and signed by the existing tenants,rescinded these leases and issued them at a 15%+ increase. The building has just passed its tax abatement / rent stabilization timeline. Has anyone experienced this with Rose or any other management company? Tenants are playing to build case. Thx
Rose Associates has recently issued leases to the tenants in its buildings(namely the Madison Belvedere on 10 E. 29th Street) at a 3% increase and then, even after these leases were returned and signed by the existing tenants,rescinded these leases and issued them at a 15%+ increase. The building has just passed its tax abatement / rent stabilization timeline. Has anyone experienced this with Rose or any other management company? Tenants are playing to build case. Thx