One week before residents are expected to begin moving into the new PerSei luxury apartments at Pike & Rose in White Flint [a.k.a. Rockville/N. Bethesda/Pike District/your name here], developer Federal Realty has switched management for the property. While as of this writing, the PerSei website continues to list Bozzuto as the management firm, a source tells me Riverstone Residential is taking over the role there as of today.
Riverstone is also a large management firm, operating 170,000 units nationwide. They are best known in Bethesda for their prior management of the Park Bethesda apartments on Westbard Avenue. That property is now managed by its landlord, Capital Properties. The Riverstone PerSei management team is scheduled to arrive on-site today, according to a source.
17 comments:
Robert I can confirm that his has occurred. The Resident Manager I leased from is no longer there and they are in disarray.
Do you have any more details? I am very concerned as I signed a lease and now have no idea whats going on.
REMOVED FROM BOZZUTO's SITE ... http://www.bozzuto.com/apartments/communities/washington-dc-metro/bethesda#.U6SR3I1dXKs
There hasn't been any official statement, but Federal Realty and Bozzuto appear to have parted ways at Bethesda Row, as well. The Upstairs at Bethesda Row site no longer mentions Bozzuto, and searches for Upstairs (and old links) now transfer you to a generic Bozzuto landing page.
My understanding is that, if you made a security deposit, that is now in the hands of Riverstone at PerSei. Unless other issues are behind this, the switch shouldn't affect you significantly. With PerSei being the first thing to open at Pike & Rose, I doubt Federal Realty would allow a debacle to occur with this. Having said that, the timing is certainly going to require Riverstone to hit the ground running.
You probably know as much as I do at this point!
By the way, if you find it is creating issues going forward, keep me posted.
The number one issue is them not being cleared for people to live in the building yet. This prevents a listing with USPS and is a nightmare trying to obtain the required rental insurance to move in and secure keys as well as transferring credit cards, etc.
It is a disaster, prices have definitely increased and it is a huge issue for some. That being said the manager Christian has been good to work with, professional and apologetic. This bodes well for management interactions in the future
Robert I think you should go onsite and interview Federal Realty and Riverstone ... Lets get to the bottom of this ... something sketchy is going on.
I vouch for Christian too ... They seem not to have all the information on what was promised to already leased individuals which is worrying.
Re: PerSei issues - Will people not being cleared to move into the building prevent them from moving in as-scheduled this coming Friday? Price increases - were these after signing the lease, or just for those signing up now? Is the rental insurance required, and who is the beneficiary, the tenant or the landlord?
The final clear for the first floor won't be given until Wednesday at the earliest. If they fail and its not rectified quickly no one will be able to move in this up coming weekend.
That being said they passed their elevator inspection last week and they're hopeful that they'll pass for the first floor this week. Not sure what this means for individuals on higher floors.
It is impossible for the price to go up after a signed lease - the lease is between Federal Realty and the tenant. Buzzotto was just an executor. Anyone being told otherwise is being lied to. For those who haven't signed a lease the price could definitely go up.
They seem generally unaware of the incentives the previous company was promising. Container Store gift card, Matchbox Gift Card, free membership at Sport and Health, etc.
Rental insurance is required, min. 100,000 policy for liability and they must be named as an additional interest. This is required in the lease before keys can be provided.
Robert I think you should talk to Federal Realty, Riverstone or even Bozzutto ... This is a major new initiative in the area ... the Pallas will be coming online next year and who knows what this means for the restaurants coming in?
Is Federal Realty breaking with Bozzutto across the board? Are signed leases below expectation (this is what i expect). Out of 172 apartments they list about 70 still available to rent on their site. Was their improrpriety with Bozzutto employees?
What is very interesting to me is the same people that were at Bethesda Row were transferred over to the PerSei for its "Lease up".
Any update on this?
Will they or won't they move in this weekend ....We need to know!!!!!!!
Is Robert being paid off by Federal Realty? Why no update!?
Hello Robert, I would like to have an update on this as well. I'm scheduled to move in on July 5th, but I am being told that the 3rd floor might not be ready until the 15th. I already have mover scheduled and everything, but can't get a confirmation yet. I guess I'll know more on Monday.
Hello fellow PerSei resident - How did you hear about the delay until the 15th? I have not heard anything about this and I am scheduled to move in on the 7th with a third floor apartment.
I'd love to talk to you - maybe on Twitter?
Robert - you were there today!!! I saw your photos ... did you speak to them???
To the fellow resident on the 3rd floor, you can send me your contact info to support@adnova.com.
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