Landlords Get Tough In New York's Condo Conversions

Weakened rent stabilization laws help landlords evict market-rate tenants. In Manhattan, more than 7,000 apartments are slated for conversion.

1 minute read

May 3, 2006, 5:00 AM PDT

By maryereynolds

Affluent elderly renters are unwillingly leaving Upper East Side apartments. Gail Amsterdam, who is trying to help her mother and uncle stay in their market-rate apartment says: "I don't understand why nobody is standing up for elderly people who cannot stand up for themselves." New York is a renter city; in Manhattan, three-quarters of all households rent. Manhattan's March vacancy rate was 0.75%. Building owners claim that they are allowed to evict market-rate tenants while the condominium conversion plan works its way through the approval process. Meanwhile, lawyers for tenants are in Housing Court challenging this interpretation.

FULL STORY: As New York Apartments Become Condos, Tenants Are Stuck in the Middle

Sunday, April 30, 2006 in The New York Times

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