"Alexander Riguardi moved into 36 Greene Street in December 2020, leasing the entire third floor of the five-story brick building on the corner of Grand Street for $7,250. The place was nice. There's a private elevator, floor-to-ceiling windows throughout, and a well-renovated kitchen. It's also on one of Soho's quieter intersections while still being close to everything. And nicest of all, it may net him about $4 million."
"As the Real Deal reports, Riguardi, a commercial-real-estate broker at JLL whose father is the company's New York chairman and president, stands a pretty good chance of getting a big buyout thanks to some dumb luck and inept landlording. The story of how a real-estate nepo baby whose achievements to date include a short-lived app to get drunk Hamptonites home came to be the beneficiary of New York's Loft Law is a funny one."
"Riguardi seems to be one of the few tenants who has rented from the building's owners, architects Antonio Morello and Donato Savoie and artist Ted Victoria. The three bought the place in 1977 for $75,000 and mostly lived in it themselves over the decades. When Riguardi applied for the apartment in 2020, he was just 24 years old, and the owners let him sign the lease only with his father as a guarantor."
Alexander Riguardi leased the entire third floor of 36 Greene Street in December 2020 for $7,250 per month. The five-story Soho building features a private elevator, floor-to-ceiling windows, and a renovated kitchen. Owners Antonio Morello, Donato Savoie, and Ted Victoria bought the building in 1977 for $75,000 and largely lived there themselves. When the owners tried to terminate Riguardi's lease to sell the building tenantless for an estimated $15 million, Riguardi sought protected status from the New York City Loft Board under the Loft Law. The law, enacted in 1982 to protect artists in converted lofts, can apply broadly.
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