Posted by Helena on March 06, 1999 at 09:00:45:
In Reply to: Re: Mysterious behavior posted by Will on March 06, 1999 at 00:32:41:
My neighborhood has lots of buildings that were converted in the 80's. There are both city and state rules that must be followed before during and after a conversion. All tenants must receive an offering plan long before any sales take place. First there is the Red Herring, followed by the Black Book. For more info, click on the link below and chose Real Estate. The coop/condo conversion pamphlet is also available by calling the OAG, which is how I got mine before the internet.
You can also call them, give your address, and they will check if any plans have been filed.
However, what Will and Richard suggest are two possibilities, what's happening in my neighborhood is another.
Here are my thoughts:
1. Richard: drug dealer occupants, purchaser visitors: least likely, but you said "nervous" visitors.
2. Will: is waiting for what? the offering plan to be filed? landlords used to create vacancies before conversions, but got caught exceeding the limits, especially in non-eviction plans. Now they fill the apartments with people likely to purchase.
3. My neighborhood: one landlord is evicting as many long term tenants as she can, she started with the sick and the elderly for the slightest possible excuse like pets who lived there for years, betting that the ordeal of Housing Court would convince them to move. It is working. Then she does minor decorating and repairs, calls it renovation, increases the rent way beyond the vacancy rate, rents to people in their 20's at three or four times the last stabilized rent. The new tenants stay one or two years. Why? If none of these transients challenge her illegal inflated rent prices within four years, they become legal. The challenge is not likely because the 20-somethings leave NYC long before DHCR could possibly make a decision. Even if the rent is challenged with DHCR, she will get the 20% or more vacancy increase and something extra for the fake renovations.
4. Maybe the young tenants know they are paying illegally high rents and don't want the long term residents to report it or 'get involved'. These things are time consuming!
What to do? Get more information, get rid of the rumors and speculation. Call the OAG about the possible conversion. One of you talk to one of them: break the us-versus-them barrier: they might just tell you: our neighbors did. Talk to your block association.
Note: Posting is disabled in all archives
Post a Followup