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HSTPA Cutoff date for Coop and Condo Conversion.

NYC Rent Regulation: Rent Control/Rent Stabilized, DHCR Practice/Procedures

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HSTPA Cutoff date for Coop and Condo Conversion.

Postby indigo » Mon Mar 14, 2022 7:28 pm

Am I correct in understanding that the effective date of HSTPA is June 14, 2009

and that beginning with this date for a coop or condo conversion to be effective, 51% of existing tenants must agree to purchase their units?

Last week I received a letter from my landlord telling me that the plan to convert our building is declared effective.'

It stated that the sponsor has entered into agreement with Purchasers for 23 Residential Units, which represents 23% of the 100 Residential units offered for sale under the plan.

Upon checking further I found the 2nd offering plan book that we received in November of 2020. It states: The term of the initial offering of this plan commenced on November 1, 2020 and expires on October 30, 2021, unless this date is extended in a duly filed amendment.

Now, I also found the 1st offering plan book we received, but the places for dates on that one are empty.

Is our landlord trying to pull a fast one on us? Am I looking at the wrong dates?

How could a plan be declared effective with only 23%, instead of the required 51%?

Could they have submitted the required paperwork prior to the law being changed, but did not inform us?

How do I find out?

Thanks
indigo
 
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Re: HSTPA Cutoff date for Coop and Condo Conversion.

Postby TenantNet » Mon Mar 14, 2022 8:04 pm

First, go here and download Part 1 of the Lebovits articles:
viewtopic.php?f=3&t=13888

Many parts of the 2019 law are effective on 6/14/19, but some are retroactive. Some retroactive provisions were modified by court challenges.

Are there other tenants like you? If so, you should probably form a tenant association and consult with an attorney to see how to react all of this.
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Re: HSTPA Cutoff date for Coop and Condo Conversion.

Postby indigo » Sun Mar 20, 2022 1:33 am

I downloaded and read what you suggested. Nothing there answered my question.

As per my op, 77% of tenants are like me. We had formed the tenant's association some time ago, but no one seems to know anything, or even interested to find out.

The question is: Is it possible to have a condo conversion based on 23% of tenants agreeing to buy their units, when prior to 6/14/19 it was well below 15%?

Upon additional digging I was able to find a paper that states: New York State Department of Law filed the Plan on December 1 , 2020 ("The Filing Date").

Thanks
indigo
 
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Joined: Mon Mar 14, 2022 6:51 pm

Re: HSTPA Cutoff date for Coop and Condo Conversion.

Postby TenantNet » Sun Mar 20, 2022 2:02 am

Honestly, I don't know the answer to that question. As you apparently know, in the old days it was 50% for an eviction plan and 15% for a non-eviction plan.

The document I gave you a link to - does indeed answer your question. see Page 45 of Part 1. It also says that to resolve issues from a determination by the OAG, one can file an Article 78 proceeding in NYS Supreme Court (or find evidence of fraud).

I would also consult with a tenant attorney that also has experience in conversions, and with the Attorney General's office.

This stuff is not easy; you will have to work at it.
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