search

The Real Deal Logo

Trending

Glossier founder is buyer of $22M Brooklyn townhouseGlossier founder is buyer of $22M Brooklyn townhouseBuyer found for “whole kit and kaboodle” at Anchor Steam Brewery Buyer found for “whole kit and kaboodle” at Anchor Steam Brewery Housing deal finally passes; here are the detailsHousing deal finally passes; here are the detailsBushburg buying Rudin’s half-empty FiDi office building for $160MBushburg buying Rudin’s half-empty FiDi office building for $160M
New York

Pols act against “personal use” provision

Sign Up for the undefined Newsletter

In December, the nine tenants remaining at 47 East 3rd Street accepted
a settlement of $75,000 each from the landlords to move out of the building by the end of
August this year. Building owners Catherine and Alistair Economakis began the
eviction process in 2003, using a provision of the law that allows
landlords to reclaim rent-regulated apartments for “personal use.” Now
politicians are taking action against the law. The Assembly passed
legislation earlier this month allowing landlords to take only one
unit for personal use, and to use that unit only as a personal
residence. Housing advocates said the legislation is a preventive
measure that will keep other landlords from taking a case like the
Economakis’ successfully through the court system.