Posted by Real Estate Mogul on January 31, 2001 at 19:37:10:
In Reply to: Tenant Protections in NYC posted by Linda Charest on January 31, 2001 at 15:48:53:
New York City did aquire many properties abandoned in the 1970's. The City (HPD) has proven to be its own worst landlord.
That is why it has been city policy to sell individual apartments and entire buildings for the last several years. As an existing resident, you often have first priority in purchasing your unit. Owning is almost always a better decision financially than renting.
Why don't you make appropriate inquiries about buying your unit, or even the entire building ?
Check out the link to the city web site below, search under HPD for exact procedures.
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