The Real Deal New York

Topless tension at Brooklyn rental owned by Goldman and Gluck

Owners rented units in bulk to King's College
February 11, 2019 03:15PM

436 Albee Square in Brooklyn (Credit: Wikipedia)

Tenants at Yoel Goldman and Joel Gluck’s luxury Brooklyn rental have a few things to get off their chest.

“There were girls sunbathing topless up there,” a tenant at the Azure with a young child told the New York Post. “My wife was like, ‘WTF?!’ There are a lot of families [here].”

“They marketed it as being a luxury building with families,” another tenant told the newspaper.

The problems at the Azure, located at 436 Albee Square in Downtown Brooklyn, reportedly began when Goldman’s All Year Management and Gluck’s Spencer Equity struck a deal to rent nearly a third of its 150 units to King’s College in Lower Manhattan.

That deal, another example of how landlords are coping with the city’s luxury rental glut, brought young, partygoing co-eds to the glitzy rental property, the Post reported. Students told the paper that they are currently paying $6,000 per month between four people to live in two-bedroom units. Current listings on StreetEasy show two-bedrooms at Azure listed for $3,950 a month. Goldman and Gluck refinanced the building in July with a $118 million loan from an Israeli investor.

Since 2015, New York rents have been decelerating, declining 0.4 percent in July, according to Bloomberg.

Diane A. Ortiz, who works for the building’s management firm, told the Post that tensions reached fever pitch during one student move-in day.

“I was being cursed out right to my face [by an older tenant]. Somebody called me a bitch,”Ortiz told the Post. “There is a war between college students and tenants, but they are all people and they all pay rent.” [NYP] – Decca Muldowney