But cool heads ultimately prevailed as negotiators came to terms that would keep doormen, janitors elevator operators and other multifamily employees at their posts.
A union official confessed to GlobeSt.com yesterday morning that there was a "little movement" in discussions about wages, but it wasn't enough to close the wide gap that yawned between the union and building owners. Other points of contention revolved around the maintenance of various health-care programs and the need for more security training.
But late in the day on Tuesday, the union rep stated that much more progress was being made on these other issues than on wages, and he told GlobeSt.com to expect the talks to "go late."Indeed they did, with a joint statement made at 2am this morning that a tentative deal had been forged. Key to the settlement are annual raise hikes over the next three years of 2.72%, 2.8% and 2.87% respectively. Beefed up retirement perks are also included for workers who have put in 25 years.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
