Marolda Properties Scoops Up 144-150 Ludlow for Price-Chopped $11.9M
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Some real estate turnover to report in Hell Square today. Looks like the so-called “gated community” at 144-150 Ludlow Street finally found a buyer. The winning bidder is one Marolda Properties, who recently purchased the century-old tenements for a price-chopped $11.9 million. That’s right, the initial ask nearly two years ago was for $15.9 million.
144-150 Ludlow is located between Rivington and Stanton Streets; four adjacent buildings combined into one mega-complex. There are fifty-two total units – five studios, seven two-bedrooms, and forty one-bedrooms – and a courtyard.
As for Marolda Properties, they carry a terrible reputation around the city. The interwebs brims with complaints about this company. Even a short-lived “Marolda Property Tenants” hate-site was created to share the collective experience of likeminded lessees. And on Yelp, the company received reviews like:
Horrible. Unprofessional and rude. To both businesses and residential. I’ve dealt with many management companies in NY for the last 20 years and they are one of the worst.
They think it’s ok to leave people with leaks and unsafe conditions. They never answer calls for weeks and months. When they do finally show up they say they are coming back then never do. This has happened repeatedly – not a one time occurrence.
Avoid them if you can.