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CO-OP Conversion

Posted by ODENDHAL on August 09, 2000 at 07:15:50:

Building filed for co-op in 1987, no units were ever sold. 2000, not one unit ever sold and they say that the building is still Co-op but the landlord says that it is not a co-op. Eight Units in buildings, building is owned by one person, this is not a CO-OP nor will it be co-op because it is in a supposed " Court Action" -Landlord is handing out 2-5 family unit leases for this eight unti building.

We went to the OAGs office and they said that any building that went co-op that failed to sell any apartments ( within a certain period of time) would convert back to it's prior status. Rent Controlled was the privious status but we are in a grey area as other landlords are doing this as a form of practice to deregulate apartments and get more money from the tenants.

What agencies could assit the tenants in this building and how can we, the residents of 1163 prospect ave go to get a definitive answer on these question as the OAGs office was very scarce with the info but we have scheduled a review of the amendment to the CO-OP plan and we are currently are researching the deed and tax info at the muni building in Downtown Brooklyn.

Any Ideas, advice or groups that would eat this up

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