Post by High Priestess on Aug 10, 2016 16:23:02 GMT
See the story:
therealdeal.com/2016/08/08/equity-residential-flouting-law-by-running-airbnb-style-hotel-in-midtown-lawsuit/
A new lawsuit says the real estate investment trust “brazenly” made money by turning its Midtown rental building into an Airbnb-styled hotel.
In a suit filed Friday, tenants Clifford and Mie Yellen accused the Sam Zell-controlled REIT of “defiantly” flouting a New York law preventing short-term rentals, and instead running an “illegal makeshift hotel” for the past six years at Hudson Crossing, a 259-unit rental building at 400 West 37th Street.
Despite numerous complaints filed with the city, the Yellens alleged Equity Residential has either ignored the violations or treated the fines as operating expenses while they “shamelessly” continued to rent, or permitted others to rent, at least 60 apartments at the building.
therealdeal.com/2016/08/08/equity-residential-flouting-law-by-running-airbnb-style-hotel-in-midtown-lawsuit/
A new lawsuit says the real estate investment trust “brazenly” made money by turning its Midtown rental building into an Airbnb-styled hotel.
In a suit filed Friday, tenants Clifford and Mie Yellen accused the Sam Zell-controlled REIT of “defiantly” flouting a New York law preventing short-term rentals, and instead running an “illegal makeshift hotel” for the past six years at Hudson Crossing, a 259-unit rental building at 400 West 37th Street.
Despite numerous complaints filed with the city, the Yellens alleged Equity Residential has either ignored the violations or treated the fines as operating expenses while they “shamelessly” continued to rent, or permitted others to rent, at least 60 apartments at the building.