Overcontrolling and squeezing residents for every dime
Pros
Nice views. Half the residents are super community oriented, friendly, say hi on elevators, etc. Other half seem like transplants who are just visiting and not interested in community. Good schools. Staff is super helpful BUT...they're not empowered or trusted by management.
Cons
Nickle and diming over everything. Underbuilt resources (like mailroom) so charging tenants fees to be able to receive packages. 100 page lease so they clearly don't expect people to read...except now everyone can 'read' with AI and it turns out a bunch of their terms are not market for NYC and/or not enforceable. They have heavily invested in tech which in theory should make life easier but in reality just creates fragmented experience and much of the tech doesn't work consistently. The building is right in the heart of family/kids heavy brooklyn but it seems like they've designed for single roommates and don't particularly support family realities. Appliances and finishes look upmarket but break constantly; giving premium facade energy. Elevators constantly break (currently in one of the towers where there are hundreds of units, there's only been one elevator for 3 weeks.
Advice to the owners
There are dozens of buildings going up within a quarter mile. Don't nickel and dime residents who are already paying market rates to be here. Don't tell your staff to treat affordable units differently from market units. Don't put digital products in places where you haven't nailed process with excellent people.
