250 East Houston Street
Employees at 250 East Houston were reportedly told to accept much lower pay or leave
Doormen and maintenance workers at the Red Square rental complex in the East Village have been offered an ultimatum: take a pay cut or be out of a job, according to a report.
Long-serving workers at the building said representatives from Planned Building Services — which is now maintaining the building for new owners the Dermot Company TRData LogoTINY and Rockwood Capital — gave them new contracts with roughly 30 percent pay cuts. Workers were told to sign off on the new terms immediately or to find new positions, DNAinfo reported. Residents in the building received letters last week informing them of the new ownership and that there would soon be renovations and apartment upgrades.
Dermot formed a partnership with Rockwood Capital earlier this year to buy the 130-unit rental building at 250 East Houston Street. The deal went under contract in August. Earlier this week, the partnership received a $57.6 million acquisition loan from Spanish bank Banco Bilbao Vizcaya Argentaria (BVVA) to close on the $100 million purchase.
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