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Posted by Marta McLoughlin on June 06, 2000 at 15:24:00:

In Reply to: how to find out if a building is going coop in new york city posted by billy on June 02, 2000 at 20:02:57:

: is there a way to find out if a building is going coop in new york city? i called the attorney general's office and they were not helpful. the first thing an owner does is file a red herring i have learned. any number to call, place to go, etc to find this information out?? THANKS

In the last few years very few buildings have converted from rentals to co-ops or condos, the changes to rent stabilization laws, deregulating apartments that rent for $2000 or more, took care of that!
Due to these changes, the economic incentives to landlors to convert properties in order to make money were removed from the equation. In view of this developments, the chances of your building converting are slim to none.
Hope this information was helpful.

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: : is there a way to find out if a building is going coop in new york city? i called the attorney general's office and they were not helpful. the first thing an owner does is file a red herring i have learned. any number to call, place to go, etc to find this information out?? THANKS

: In the last few years very few buildings have converted from rentals to co-ops or condos, the changes to rent stabilization laws,  deregulating apartments that rent for $2000 or more, took care of that!
: Due to these changes, the economic incentives to landlors to convert properties in order to make money were removed from the equation. In view of this developments, the chances of your building converting are slim to none. 
: Hope this information was helpful.



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