New York Tribeca Tenants Blame $5K Rents on Brokerage
What Are Tribeca Tenants Alleging Against Compass? The complaint casts Compass as a dominant force in Manhattan rentals. It alleges the brokerage distorted the market by limiting where apartment listings appeared and making units harder for renters to find on free public platforms. Filed by Tribeca tenants Peter Castaneda and Haley Gelfand, the federal class-action suit portrays Compass as a company with unusual control over Manhattan rental inventory. The suit says Compass controls about 80% of rentals in Manhattan. The allegations come as Compass is also pursuing an acquisition of Anywhere Real Estate that would create the largest residential brokerage in the country. Claims of Market Control According to the complaint, Compass told agents to remove rental listings from StreetEasy. The suit says agents were directed instead to a separate Real Estate Board of New York system. The tenants argue this reduced listing transparency. They say it also made comparison shopping harder and re...