The Real Deal New York

Joseph Betesh, partners settle with Chinatown tenants

Residents will be relocated and compensated during renovations

May 11, 2016 10:34AM

83 85 Bowery

83 and 85 Bowery

Landlord Joseph Betesh and his partners reached an agreement with residents of 83 and 85 Bowery in Chinatown that will allow repairs at the buildings to proceed.

Betesh sued 27 tenants at the buildings in April, seeking to evict them. He cited the need to make significant structural repairs to the properties, which would require them to be empty.

At a court hearing Tuesday, Betesh agreed to grant the tenants long-term leases and maintain their apartments as rent-stabilized. He and his partners will also pay to temporarily relocate the tenants while work at the build proceeds, the New York Daily News reported.

Public Advocate Letitia James served as co-counsel for the tenants, and spoke harshly of the landlord at a protest before the hearing.

Betesh led a team of investors who paid $62 million in 2013 for an 11-building portfolio that included the two five-story properties. [NYDN] Ariel Stulberg

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