Placating Displaced Tenants with Lure of Gehry
The Daily News is reporting today that Bruce Ratner is preparing to offer those tenants living on the site of his future sports complex a deal that will be difficult to pass up:
Ratner will offer all displaced tenants new apartments in one of his soaring Frank Gehry-designed towers for the same rent they now pay. Ratner also will pay for tenants to move to a new apartment nearby and subsidize their rent until they move back…He now owns 60 of the 97 rental apartments on the site along with more than 90% of the condos and coops. Ratner is negotiating with tenants in 22 apartments of the 60 he owns; 25 of the 60 are empty. Residents not interested in moving into the new high-rise complex will be offered cash. A Ratner spokesman declined to say how much.
Ratner Sweetens the Deal [NY Daily News]
Feb 13, 2012 | 10:33 AM