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DRAFT FOR ATTORNEY REVIEW — NOT FINAL

Paikoff v. Harris, 185 Misc. 2d 372 (1999)

Citation
Paikoff v. Harris, 185 Misc. 2d 372 (1999)
Parent Document
Paikoff v. Harris, 185 Misc. 2d 372 (1999)
Jurisdiction
New York (state)
Effective Date
1999-10-12

Full Text

1,406 chars
*377General Business Law § 352-eeee is designed to promote the conversion of buildings to cooperative status while protecting tenants against the forced dislocations which might result from these conversions (Legislative Finding, L 1982, ch 555, § 1). The law provides for “eviction” and “non-eviction” plans. A sponsor who is able to obtain the agreement of 51% of the bona fide tenants in occupancy to purchase may file an “eviction plan.” A sponsor filing such a plan is barred from evicting non-purchasing tenants for at least three years and is permanently barred from evicting eligible senior citizens and disabled persons and from subjecting them to unconscionable rent “increases beyond ordinary rentals for comparable apartments” (General Business Law § 352-eeee [2] [d] [iii]). A sponsor who obtains written purchase agreements for 15% of the dwelling units from bona fide tenants or from “bona fide purchasers who represent that they intend * * * [to] occupy the dwelling unit when it becomes vacant” may file a “non-eviction plan” (General Business Law § 352-eeee [2] [c] [i]). A sponsor who files a noneviction plan is permanently barred from evicting nonpurchasing tenants based on “expiration of tenancy” and from subjecting such tenants to unconscionable increases (General Business Law § 352-eeee [2] [c] [ii], [iv]; see generally, Lang-dale Owners Corp. v Lane, 166 Misc 2d 439, 441-443).