bsanchey t1_jbegdlj wrote on March 8, 2023 at 1:45 PM

Maybe they didn’t leave enough tip on their expensive rent. Honestly landlords are getting to brazen. Take their properties and convert them to condos or co ops. Give the current residents the opportunity to buy and to stay in their homes. Probably would be cheaper for them.

ThisOneForMee t1_jbfwwtl wrote on March 8, 2023 at 7:32 PM

> Give the current residents the opportunity to buy and to stay in their homes

How are the current residents going to come up with all the money needed to make all these repairs?

natekrinsky OP t1_jbehm0p wrote on March 8, 2023 at 1:55 PM

I agree with you. Hopefully they can pass TOPA soon.

Airhostnyc t1_jbei1k8 wrote on March 8, 2023 at 1:58 PM

The property will go back to the bank that own the loan. The owners stopped paying the mortgage on the loan. There isn’t no “taken” lol tenants will have to bid and buy from bank.

These are RS buildings so there is no expensive rent. If you read the article the owners bought pre2019 change in law most likely with the intention of doing buy outs and renovations to deregulate units. They can’t do that anymore so therefore it’s a useless investment.