Tenants: Centurion booting us in “non-eviction” conversion

New York-based company reportedly refusing to renew some leases, canceling existing ones

TRD New York /
Apr.April 15, 2014 12:00 PM

Tenants of a Battery Park City building that is amid a rental-to-condo conversion are saying their landlord is giving them the boot despite previously leading them to believe they could stay.

Although building owner Centurion Real Estate Partners gave residents of the 324-unit tower at 22 River Terrace a plan mailed in January offering discounted prices for their homes, the New York-based company is now reportedly refusing to renew some leases and canceling existing ones. But the controversial move is legal as case law allows landlords to deny lease renewals to tenants while the attorney general reviews the plan pre-approval, according to the New York Post. Centurion is also within its legal rights to cancel leases that were signed at the end of 2013, as those agreements included a 90-day cancellation rider, BatteryParkTV reported.

Meanwhile, tenants are in an uproar because they can’t buy their apartments or renew their leases until the plan is approved, a process that could take up to 180 days, the Post reported.

Centurion purchased the tower, Located Between Warren Street and Park Place, for $265 million from Rockrose Development in 2013. The company has since signed on Walker Tower conversion architects Cetra/Ruddy to transform the rental units into luxury condominiums. [NYP] and [BatteryParkTV] Angela Hunt


Related Articles

arrow_forward_ios
Clockwise from top left: 180 Ashland Place. 180 East 125th Street, 35 Commercial Street and 2440 Fulton Street (Credit: Google Maps)

The top 10 biggest real estate projects coming to NYC

The top 10 biggest real estate projects coming to NYC
Rockrose Development President Justin Elghanayan and 98 DeKalb Avenue in Brooklyn

Rockrose’s new Brooklyn skyscraper will rise 47 stories

Rockrose’s new Brooklyn skyscraper will rise 47 stories
Rockrose Development Justin Elghanayan and 98 DeKalb Avenue in Brooklyn (Credit: Google Maps)

Rockrose closes $81M all-cash Brooklyn buy

Rockrose closes $81M all-cash Brooklyn buy
Battery Park City and Financial District rental markets suffered due to the Covid-19 outbreak, while FiDi’s sales made gains and BPC sales tanked last quarter. (Credit: iStock)

Battery Park City sales hammered last quarter as FiDi sees uptick

Battery Park City sales hammered last quarter as FiDi sees uptick
From left: Eagle Lofts at 43-22 Queens Street in Long Island City, 292 North 8th Street in Williamsburg and The Landing at 15 Bridge Park Drive in Brooklyn Heights (Credit: Rockrose Development, Stonehill & Taylor Architects and StreetEasy)

Rockrose’s $350M haul tops March list of outer-borough loans

Rockrose’s $350M haul tops March list of outer-borough loans
Richard LeFrak with Gateway Plaza at Battery Park City (Credit: LeFrak by John Lamparski/WireImage; Olnick Organization)

Judge OKs $42M settlement by LeFrak, Battery Park City tenants

Judge OKs $42M settlement by LeFrak, Battery Park City tenants
Randall Yanker, Jessica Weitzman, and Javier Lattanzio, with the apartment (Credit: Corcoran/Compass)

Financier offers $100K to broker who brings him a buyer

Financier offers $100K to broker who brings him a buyer
27-34 Jackson Avenue and Rockrose's Justin Elghanayan

Rockrose plans a $100M resi tower in LIC

Rockrose plans a $100M resi tower in LIC
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...