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I’ve been thinking about this bill and despite it seeming to operate from the premise that buyouts are inherently bad, I think DHCR maintaining a buyout database would be good and may be a first step toward creating an equitable and efficient buyout systemhttps://ny.curbed.com/2019/9/6/20852943/nyc-rent-stabilization-buyout-harassment-julia-salazar?utm_campaign=ny.curbed&utm_content=entry&utm_medium=social&utm_source=twitter …
1) LL wants to demolish the building to build a bigger one (buyouts tend to be larger in this case) 2) to combine or otherwise substantially reconfigure unit(s) to create a new starting legal rent 3) to avoid a drawn out eviction process
As an addendum to 1),it could be for a use change (ex: turning a ground floor apt into retail) but that rarely makes sense or is even possible zoning wise. Separately, I think we’ll see the return of tenants buying each other out, which doesn’t seem to be covered by this bill.
Because they may lose less money from a creating a vacant one than the expenses that come from an occupied one.
No that’s not really a thing, despite some emo landlords (or their lawyers) and conspiracy theorists speculating about that in the press.
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