Irresponsible Developer Is Failing New York City
New York City – February 7, 2013 – (RealEstateRama) — Hundreds of supporters joined elected officials, construction, building operations, and maintenance workers to give The Moinian Group failing grades on tenant relations, safety, financial stability, vendor relations and good jobs at the corner of Broadway and Barclay streets.
Gary LaBarbera, president of Build Up New York City, said, “The Moinian Group needs to wake up and realize that driving industry standards straight to the bottom is hurting workers and entire communities across New York City. The path to a stronger economy lies in creating good jobs with wages and benefits that can sustain middle-class families.”
The Moinian Group has hired contractors who pay less than the established industry standard wages and benefits and do not participate in training and apprenticeship programs that teach safety precautions at construction sites. Their Hilton Hotel project at 237 West 54th Street has been shut down fully or partially, by the NYC Department of Buildings on at least four separate occasions since August 2011 for safety violations.
“New Yorkers want to live in a city where real estate developers contribute to growing the economy with good jobs that can sustain families with living wages and affordable healthcare,” said NYC Council Speaker Christine Quinn. “The race to the bottom has got to stop and it begins with bad actors stepping up to play the game the right.”
The Moinian Group has defaulted on hundreds of millions of dollars in loans on properties nationwide and lost at least one of its buildings to foreclosure. Meanwhile, tenants in some of their most prominent buildings have sued the company, alleging diversion of funds, improper maintenance and repair to the buildings.
Build Up NYC is an alliance of working men and women, committed to good jobs and responsible development. We believe that developers who construct and maintain buildings in NYC have a responsibility to the communities, tenants and workers who make their success possible.
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