Buying a rent-regulated multi-family buiding (and then going to hell)

I know you can kick people out of regulated apartments if you take a building for your own use.   Two questions: Can an LLC do that?  Like if 3 families bought and kicked out the current residents for thier own personal use (and eventually conversion to condos)? Would it be hard to change the zoning on the place from a 8+ to a 1-4?  The taxes are insane, and I think it would go down if it was rezoned.

I realize this is means kicking out poor people and old people* and thus, going to hell for all eternity.  But while I’m here on earth, is it legal?   *altho I’m not so sure in this building as the rents are not too low — nothing under 1200/mo for a tiny apartment in borderline area

sweetestlittlehouse

in Zoning 12 years and 3 months ago

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sweetestlittlehouse | 12 years and 3 months ago

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Thanks guys.  Good to know.  For what it’s worth, nobody has been in the building for more than a few years.  Longest tenant moved in 2005\.   It’s rent stabilized, not rent controlled.   But that doesn’t mean nobody is over 62 (who knows).  And while I’m not interested in immediately selling,  that doesn’t mean I wouldn’t want to in 15 years.
Yes, I know I don’t know the diff btw all the terms.  I only know it’s zoned for multi-faily and has no C of O.   Thanks for the 533 Bergen comp.  It was successful but after many years of protests.     I thought corporations were people now!  I guess not.

JL923 | 12 years and 3 months ago

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slopemope is the reason people should never go on the internet for advice. Completely wrong. LLC cannot use owner occupancy as a grounds for a holdover action. Simple as that. Second time i’ve seen him give bad advice.

ejalbk | 12 years and 3 months ago

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http://cdn.blankslate.com/profile_image.png

ejalbk In addition to the above, if you were successful in evicting a rent-regulated tenant for your personal use and then immediately converetd the building and sold that apartment, you’d likely be setting yourself for a nasty lawsuit for misrepresenting your true intentions. Don’t go there….

slopemope | 12 years and 3 months ago

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  i’m not sure about SRO’s because those are a seperate protected class.  There are a whole host of issues including obtaining certficate of no harassments.  As far as rent stabilized units: “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.”  However an owner can take more than one unit for his or his “relative’s occupancy”.  See extreme example at bottom of my post.   “Generally” speaking though, eviction for owner occupancy is an exception to rent stabilization.  It allow the landlord of a rent stabilized building to take over one or more apartments for family use with 90-150 days notice before the existing lease expires. You must be able to prove that the apartment will be for personal family use (ie not a group of friends).  Tenants over 62 or disabled have a seperate set of protections.  Tenants are able to ignore your 90-150 day notice and wait to be served eviction papers – forcing you to prove in court you need the apartment for family use – and the judge will decide.   here is your extreme version:   http://ny.curbed.com/tags/47-east-3rd-street

rh | 12 years and 3 months ago

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Did you purchase the building yet? If not, why don’t you find yourself a 3 family where you don’t have to kick out old and poor people? Yeah, it’s a big joke to you and clearly you’re going to have some nasty karma to deal with, but it’s no joke to those people. If you’re set on this particular building, 1) Buy them out as others have said, or 2) Rent to them until they move or die.

northofditmas | 12 years and 3 months ago

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Google 533 Bergen Street.  They tried to do that and I’m not sure if they succeeded.  In the end most cases involve paying off the tenants. Whether or not the law is on your side handing over cash to the tenant and not your lawyer is usually the most effective solution.

dillettanteinbedstuy | 12 years and 3 months ago

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dude, get a lawyer and learn the difference between zoning, use and occupancy – then get out your checkbook

starfish11040 | 12 years and 3 months ago

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Forget it. An LLC cannot take a rent-stabilized apartment for personal use (yes, even though the LLC owns the building just as an individual owner does)..