Tuesday, October 5, 2010

Some More Whining About the Cobble Hill Towers' New Owners

From Curbed:

"What would any rental-to-condo conversion, even one that promises renters the opportunity to stick around, be without tenant fears that they'll be forced out? It would be unlike any condo conversion we've ever seen! And it would not be Hicks Street's Cobble Hill Towers. Tenants in the complex have already gone through the first few stages of conversion anxiety, including arguing that the insider prices are too high and that gentrification is coming. And now come the worries that the building will try to force out its renters."

What are we missing here? The commenter clearly states that he or she has only lived in the complex for one year and that the rent was $2,300 a month. So, the apartment is already deregulated and the renters do not have stabilization or control protection. So, the owners can charge whatever they want since the apartment is deregulated. 


Also, forcing that particular renter out would only be counter-productive for the owners, since they can be evicted anyway in the instance of a sale.