Related Sells Sagamore Building
Started by jm987
almost 15 years ago
Posts: 2
Member since: Jun 2010
Discussion about
Any idea how this may affect current tenants? Presumably will lose the ability to transfer to other Related properties? http://ny.therealdeal.com/newyork/articles/related-sells-sagamore-building-for-140m-at-189-west-89th-street-on-upper-west-side
All the terms of your lease are binding regardless of the owner. New owner will likely bring in a new managing agency so you will see some changes relative to that. Porters and doorman are union so they won't change as a result of the sale.
The building is now being managed by The Bozzuto Group. As mentioned above, porters and doorman (and super) are all staying. They only gave tenants notice of the change on April 28th. They aren't taking credit card payments for rent like Related did, so that means people had 2 days' notice they needed to have a check ready for May's rent! They said they would allow credit card payments starting in June, so hopefully that is true, but it seems like they should have been able to plan/communicate better regarding May rent.