BaroqueJim
September 25th, 2004, 12:45 PM
I have just been reading a bulletin board for the people of Battery Park City, talking about Gateway plaza, which is also owned by LeFrak. It seems the people over there have exactly the same complaints about LeFrak as people do over here. Poor service, dubious practice, unaccountability, etc etc.
Anyway, one thing which really caught my eye was a post from someone who had discovered that LeFrak had "stolen" some of the interest earned on their security deposit:
"Speaking of outrageous administrative fees, did anyone else notice the outrageous fee that Lefrak is now taking out of each resident's annual interest on security deposit check? According to the records of The Bank of New York (I think it was The Bank of New York - I cashed the check the other day), my security deposit earned $17.70 in 2002, and Lefrak took out $13.50 as an "Administrative Fee." This left me with $3.20 in interest on my security deposit.
Does the GPTA think this is okay, too? "
Anyone have any information or opinion about this?
Another point of interest from someone on the same board was regarding the amount that LeFrak collects in "administration fees":
"Lefrak actually collects over $240,000 per year from Gateway residents just for sending out computer generated bills and crediting our bill payments. Outrageous. "
It has been noted that LeFrak has raised his electricity time admin fees by 10%, in a time of near zero inflation, and when many residents are experiencing economic hardship. These posts were from 2003.
Anyway, one thing which really caught my eye was a post from someone who had discovered that LeFrak had "stolen" some of the interest earned on their security deposit:
"Speaking of outrageous administrative fees, did anyone else notice the outrageous fee that Lefrak is now taking out of each resident's annual interest on security deposit check? According to the records of The Bank of New York (I think it was The Bank of New York - I cashed the check the other day), my security deposit earned $17.70 in 2002, and Lefrak took out $13.50 as an "Administrative Fee." This left me with $3.20 in interest on my security deposit.
Does the GPTA think this is okay, too? "
Anyone have any information or opinion about this?
Another point of interest from someone on the same board was regarding the amount that LeFrak collects in "administration fees":
"Lefrak actually collects over $240,000 per year from Gateway residents just for sending out computer generated bills and crediting our bill payments. Outrageous. "
It has been noted that LeFrak has raised his electricity time admin fees by 10%, in a time of near zero inflation, and when many residents are experiencing economic hardship. These posts were from 2003.