Good Building, Major Management Issues
Pros
Amazing location: close to the waterfront, parks, and transit.
Cons
Long history of unstable ownership, including a bankruptcy sale in 2025. (Public record: building sold out of bankruptcy for $55.7M to CIM Group/Osiris Ventures) Communication from management is inconsistent, especially during ownership transitions. Rent increases and lease handling can feel confusing or mishandled. Maintenance response times vary depending on who is managing at the time. Lack of transparency around rent stabilization status, J-51 history, and legal rights. Tenants have had to organize themselves to get clear information.
Advice to the owners
Treat tenants as long-term community members, not short-term revenue.
Beautiful Building Full of Character
Pros
This building is one of the few original lofts left in Williamsburg; with gorgeous oak beams, exposed brick, high ceilings, long plank wood floors etc. Not a ridiculous luxury/modern highrise Our super (Barry) is AMAZING. The best ever! The hallways, elevator, mailbox/common areas are always clean Regular pest control The neighborhood; it's a great centralized part of Williamsburg near literally everything Convenience to trains
Cons
The greedy landlords (2 LLCs) have filed for bankruptcy and put the building up for auction There's no roofdeck or roof access
Advice to the owners
Just do the right thing and communicate to your tenants that their existing leases + option to renew etc will be honored once the new owner(s) takes over
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