Boston Real Estate for Sale

I think this story is just bizarre.

Tenants in a Midtown high-rise won a court battle that will keep them from being tossed from their rentals even as the building converts to a luxury condo tower – a ruling that could have an impact on similar eviction bids around the city.

The ruling bars evictions of the remaining 23 tenants at The Sheffield, an apartment tower on West 57th Street that was sold in 2005 to new owners with plans to convert the 845 apartments into condominiums.

Now, keep in mind, these aren’t people who are living there under rent control or rent stabilization. These are market-rate apartments. And, these people’s leases expired, naturally (or they were tenants-at-will).

The judge didn’t care. He said that city regulations protected tenants from being displaced by condo conversions.

The owners of the building will be able to raise rents, but if they go too far, they risk being taken back to court to defend their actions.

Big Home Run – By Tom Topousis, New York Post

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Updated:  1st Q 2018

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