Posted by Shelley on March 06, 1999 at 13:34:01:
In Reply to: Re: Mysterious activity posted by Mark Smith on March 06, 1999 at 09:05:59:
Thank you Mark, but just for my own edification, how can a co-op or condo be in name only?
: A landlord can't secretly turn a building into a co-op or a condo. There has to be an offering plan filed with the Attorney General, and copies have to be served on the tenants. Before there can be co-op or condo, the Attorney General has to pass on the offering plan. If it is going to be a real co-op or condo, the landlord will generally offer a discounted insider price to the tenants living there.
: If it is going to a co-op or condo in name only, the landlord will sell the minimum number of apartments to outsiders, with no incentive for insiders to purchase. Then, as apartments become vacant, the landlord can rent them for as much as the market will bear, without making any improvements.
: : I am a rent stabilized tenant, and have lived in Manhattan for many years at this address. Lately, I've noticed odd and suspicious activity that leaves me wondering if the landlord is up to something. People, mostly young but seemingly afluent individuals have been witnessed by myself and others, entering the apartments of tenants who are relatively new to this building. Tenants we strongly suspect, but do not know how to prove are planted here by the landlord. These individuals always seem very nervous, especially when they are entering an apartment that is adjacent to an older tenant. These apartments are usually, over the time the newer tenants are installed, problematic for a time in some way or the other.
: : My mind has been thinking overtime lately, especially after reading these pages. Forgive my rather naive question, but can landlords sell units in a partly rent controlled building without notifying the older tenants? Could our landlord be clandestinely co-oping whatever apartments he controls? If this is a common practice, is it legal? If not, what can be done to stop it, legally or to force his hand and make him come clean? Am I way off base here? Any discussion on this topic would be well appreciated. Thank you, Shelley.
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