Eitel Building Apartments

Reviews

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  Eitel Apartments is owned by BlackRock, an investment firm that manages trillions in assets across the globe. Among many things, they are the largest shareholder in two American gun manufacturers - Sturm, Ruger & Co. and American Outdoor Brand. BlackRock’s assets reach far and wide - do your own research - but know that real estate is hardly their strength or specialty. With that information, be aware that living at Eitel is not “living the life of luxury” as their marketing suggests. Instead you’re just an opportunity for BlackRock to add maximum value to the their portfolio of assets at a very minimal expense. I am not against the idea of making money on property you own, but know that you will get nothing in return for your monthly rent payment, especially a decent living experience. Greystar, the current property management company (and 3rd property management company BlackRock paraded through the leasing offices in the short couple of years I lived there - a nightmare for another review) will try to woo you with the fancy lobby/rooftop remodel and amenities, but don’t fall for it. I’ll be the first to say - having a locked closet for resident packages is hardly a groundbreaking amenity at this point in this type of rental. In reality, the entire building is just a veneer of new cheap Ikea-style furniture, Crate & Barrel nick nacks and fresh paint coating underlying foundational/mechanical problems and utilities that are old and failing. Hot water access, non-functioning elevators, false fire alarms, non-staffed concierge, building access issues for tenants and non-tenant intruders alike were some of the frequent failures that were rarely addressed with a sense of urgency or completely solved. You’d think paying $1,600/mo. would be enough to avoid these types of issues so regularly. It’s not. You’d think Eitel/Greystar would try to live up to their “live the life of luxury” marketing schtick. They don’t. My advice? You can easily find newer, better run properties in Minneapolis in the same price range.
  By B L, September 08, 2017

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