owner selling building...what happens to me?

[bklyn11215]

First off, the building is rent stabalized. Can the new owner...
A. raise the rent?
B. Kick us out?
C. go condo?
D. or do anything else that I am not thinking of?
Thank you in advance!

[MikeW]

The sale of the building does not effect your status. The new LL can't do anything the old LL couldn't.

[bklyn11215]

thanks Mike. I am at ease. That is what I thought, just wanted a 2nd.

[jot0n0]

Option (B) is a possibility. Depending on when your current lease expires, the LL can evict on the ground of Owner Occupancy.

An owner may refuse to renew a rent stabilized tenant's lease in NYC because the owner wants the apartment for personal use and occupancy as a primary residence for the owner or a member of the owner's immediate family. Under the Rent Stabilization Law, an owner may begin an eviction proceeding when the current lease expires, but only after the tenant is given written notice that the lease will not be renewed. This notice must be served at least 90 and not more than 150 days before the current lease term expires.

According to the Rent Stabilization Law, only one of the individual owners of a building can take possession of one or more dwelling units for personal or immediate family use and occupancy, even if the building has joint or multiple ownership.

[TenantNet]

Owner occupancy here is not a function of new ownership. The old owner can also seek eviction by owner occupancy (but not if it's a corporation).

There are always exceptions, but the answer from MikeW is more accurate.

[jot0n0]

Yes, owner occupancy is not a function of new ownership, but one should consider the motivation behind the buyer of a building, either as a profit venture or owner occupancy, provided buyer is not registered under a corporate entity. It was not too long ago that TenantNet posted an article in response to another poster’s question on owner occupancy eviction, “Habitats/347 East 52d Street;
Town-House Renovation Becomes a Family Affair”, by Tracie Rozhon, The New York Times, September 15, 1996, Sunday, Late Edition – Final. In the article, it describes two couples buying a 5-stories townhouse and moving out a group of rent-stabilized tenants to convert it into a two family home for owner occupancy use. You can read the full text at this link:

http://www.tenant.net/.WWW/ubbgraphics/ultimatebb.php?ubb=get_topic;f=3;t=000344

Again, I’m not saying that this will happen to you, but just giving you a possible scenario which you ask for. It could easily be that the change in onwership will have no effect on you at all.

<small>[ March 19, 2003, 10:34 AM: Message edited by: John ]</small>

[tiredsecy]

Okay, so an owner can't take over an apt. for own occupancy if it's a corporation -- how about an LLC?

[MikeW]

LLC is a limited liability corporation. I can't see how the same rules wouldn't apply to that form of corporation (under rent regulation, at least) as to any other.

[um and uh]

Actually a LLC can't take an apartment for owner-occupancy, but 9 times out of 10 if they threaten to, you will give in and move and it won't matter who lives there.

You should start talking to your neigbhors now, and get to know the DHCR website. Your new landlord might turn out to be a real chum, but if he doesn't, knowing the law will help a lot.