Hi Guys,
So I'm the last rent stabilized tenant in a rent stabilized building that's been sold. 2 tenants were already bought out. The first was bought out for $60,000 and the second was bought out for $180,000. My Mom and myself have been here for over 40 years. They said the most they can give us was $200,000. We don't think it's worth giving up a 2 bedroom $700 dollar a month RS apartment in Greenpoint, Brooklyn for.
The new owners want to redo all of the apartments and kind of combine them to get them out of RS. My question is do you think $600,000 is too much to ask for? My Mom said she's not leaving for less than that. I really don't think it's that crazy a figure if you look at what I'm paying, the locations, and how much we'll get after taxes. Plus being the last tenant in the building helps. Also, the owner is a BILLIONAIRE named Jeff Sutton. What are your thoughts?