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Building being sold again. Flipped. 3 Stabilized units left.

NYC Rent Regulation: Rent Control/Rent Stabilized, DHCR Practice/Procedures

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Building being sold again. Flipped. 3 Stabilized units left.

Postby Cylon452 » Wed Dec 08, 2021 8:58 am

Hello all

re: Rent Stabilized units
location: downtown brooklyn gentrified Boerum Hill
8 apartment total
5 free market units
3 rent rent Stabilized units left

I got a text stating a potential buyer needs to enter MY and the other 3 Stabilized units for a viewing. The Free market tenants did not get the text.

Questions:
1.Do i have to let them in? If I have too I want No one to take pictures
2.Why weren't the Free market apartment not texted for a viewing ( FYI, their rents are 3,500 + per month )
3. Why would a person want to buy a building with 3 Stabilized units left ?


Building History:
This building was sold 12 years for 1.6 million ago to another owner. The old owner told me the new owners asked him if he can get all the Stabilized out before the sell. He told them NO.
Before the building was sold he said keep the 3 months rent going forward. Very good man we had a good relationship. Try and find that today.

Last time i allowed the new owner to take pictures 12 years ago then the problems started. Trying to buy me out for 2,000 dollars !! They managed to de-stabilized 2 units ( from 5 to 3 ) DHCR did not help the other 2 units. Something about statute of limitations so they had to leave for the Streets.

My unit is under DRIE the other is SCRIE, I even rejected a low 6 figure offer and they had the nerve to tell me to move to another State 12 years ago. When i got the NY State involved they backed off. I am sure the New potential buyer(s) know I am Stabilized, have DRIE and rejected offers to leave.

I just have this feeling this will start again with new owners who see stabilized units a pain for them. Especially in Boerum Hill. I have that sinking feeling they will try to get me out using unknown loop hole tactics where the current building owners failed or gave up. The other Stabilized units expressed to me they feel the same and once again asked me for help and information.
Cylon452
 
Posts: 103
Joined: Fri Jan 20, 2012 12:11 pm

Re: Building being sold again. Flipped. 3 Stabilized units l

Postby TenantNet » Wed Dec 08, 2021 11:13 am

Look at the forum's reference section and the threads (I think there are two) on access. You probably have to let them in under certain conditions which you can control. You can designate the day and time. You can tell them they have a window of time they must show; if not, they would need to reschedule. They need to specify in writing the purpose of the access and what rooms they wish to see (they will probably say "all rooms").

Absolutely, you can insist they do not take photos. I always do that unless a court has ordered it.

You can insist only 1 or 2 people are allowed access, not a crowd and not one or two at a time.

You can insist they identify themselves and provide all contact information. You can insist only the potential buyer gets in, not an agent of his. (However, I would not let their attorney in).

And these days, you can probably insist they wear masks and provide proof of complete COVID vaccination.

Three of you left? Form a tenant association. You would be surprised at your power. They want you out; that's why you got the text.

BTW, look at your lease, see if it has a section called Notices where all notices have to be sent by certified mail (many leases have that). A text message is not the same thing. Even if the lease doesn't have that, I would ignore a text message anyway.

DRIE/SCRIE won't help in this situation; they help with rent and have nothing to do with buy-outs.
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Re: Building being sold again. Flipped. 3 Stabilized units l

Postby Cylon452 » Wed Dec 08, 2021 4:17 pm

Thank you Tenant.net for the Quick Reply. Very useful information for others that read this as well. Once the building is sold of course the new owners will try again. But at least i have this forum to fall back on for information.
Most of these building owners will always try some crap as i review all the threads here.

final question. How do i form a tenant association in NYC. I will try and find it myself using google but if you have a link related to New York that would helpful.
Cylon452
 
Posts: 103
Joined: Fri Jan 20, 2012 12:11 pm

Re: Building being sold again. Flipped. 3 Stabilized units l

Postby TenantNet » Wed Dec 08, 2021 5:21 pm

Just remember, in my opinion and experience, it's a negotiation. They can, or course, take you to court claiming no access, but I have a feeling that is not in their interest. Make them agree to a specific date and time, not some window that forced you to stay at home all day waiting for them. I usually give them a window of 2 hours, and they can call if they are running late. I'm usually agreeable if they show some respect. For a potential owner, chances are this is their due diligence. In my view, the less they know, the better. They WILL make an attempt to force you out, either with a feeble buyout offer or harassment.

We have a few pages on the site about organizing. You essentially get people to agree and that's it; you exist. You can be more formal with bylaws, bank accounts and federal ID number. All very easy to do. Best to have several leaders for LL can't target one person. Don't go to war unless you have to do so. Have clear goals. You can, if you wish, involve the unregulated tenants, but understand they have different interests from yours.
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Information from TenantNet is from experienced non-attorney tenant
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