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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

744 chars
If this is so, there can be no valid distinction between tenants in possession at the time of the conversion and those *378who rent from sponsors after the conversion. If a sponsor chooses to rent an apartment after a conversion rather than to sell it, this will ordinarily be because market conditions favor a rental over a sale. When these conditions change, the sponsor will again find it financially advantageous to discontinue renting. If it was the Legislature’s intention to protect tenants from dislocations caused by this shift in the owner’s economic interest, it could only address the problem thoroughly by protecting tenants that rent from sponsors after the conversion as well as those in possession at the time of the conversion.