The Real Deal New York

The four theater groups and four nonprofit organizations renting space at the Federal Archive Building, on Christopher Street between Greenwich and Washington streets, could be forced out by rent hikes. The state allowed Rockrose Development to convert the 10-story building into 479 luxury apartments in the early 1980s, under the condition that they rent out 54,000 square feet to organizations at 80 percent of the market-rate rent. Those tenants’ leases expire this month, and Rockrose is asking for rent increases of as much as 500 percent to renew them.