Notorious Management Company Buys 'Red Square' in East Village: Report

The residential building Red Square on Houston Street between avenues A and B is reported to have been sold to Dermot Company, a management company that has received several complaints in the past few years from tenants for slumlord-like behavior.

The New York Post reported, according to anonymous sources, the building was sold to Dermot for around $100 million.

Red Square, built in 1989, at 250 E. Houston St. has 130 rental units, 23,000 square feet of retail space and one Vladimir Lenin statue on the roof. The man who designed the building, Michael Rosen, subsequently apologized for its existence, EVGrieve reported.

The retail space in Red Square wasn't part of the deal, according to Lois Weiss at the New York Post. There are currently four vacant store spaces.

Dermot Company did not respond to request for comment.

A quick glance at most Yelp reviews of Dermot shows incredible neglect toward tenants. Dozens of rat problems, hot water interruptions and leaks were never fixed.

"There have been several emergency situations and the super for our building is not willing to help or provide alternate suggestions. Their emergency phone number takes you to a voicemail," wrote user Melissa G.

Other users complained of lacking gas for weeks and never getting a response from the management company.

The company closed a $175 million deal earlier this year on Eastland apartments in Kips Bay.

Image from Google Maps