Here’s what Joseph Betesh is paying his tenants in settlement

Building repairs at 85 Bowery now set to be finished by the end of August

Jul.July 13, 2018 10:00 AM

85 Bowery (Credit: Google Maps)

Tenants at 85 Bowery have reached an agreement to return to their building roughly six months after getting the boot.

At least 75 residents of the Chinatown property were forced out in January after the Department of Buildings found that the staircases were unstable, according to The Lo-Down. Their return was delayed later when officials found that the building had additional structural issues and asbestos.

The fight for tenants to return has been ugly, including multiple protests and hunger strikes, but both sides have now reached an agreement under which all repairs are set to be done by the end of August.

Betesh also agreed in the settlement that the apartments are rent stabilized, and he will pay $150 per apartment per day if work is not done by the end of August. He must also pay $25,000 per apartment and a lump sum of $200,000 to cover personal property claims, and the city has to approve all of the work before residents can move back. [The Lo-Down] – Eddie Small

Related Articles

Manhattan resi listings continue nosedive: report

Manhattan resi listings continue nosedive: report

252 East 57th Street and 196 Orchard Street with Samantha Sheeber and Tal Alexander

Closing in the time of Covid-19: “We’re pulling out all the stops”

Kuwait’s consul general in New York, Hamad Al-Hazeem and 50 United Nations Plaza (Credit: Google Maps)

Kuwait’s consul general buys 50 UN Plaza pad for $16M

Web searches for terms including “homes for sale” are way down up north. (Credit: Pixabay)

Fewer Canadians are searching for homes online amid pandemic

Massive stimulus package has limited upside for real estate

Massive stimulus package has limited upside for real estate

About 450 sellers pulled their listings last week (Credit: iStock)

As New York shut down, so did its resi market

Is REBNY and StreetEasy’s decision a much-needed reprieve or data manipulation? (Credit: Pixabay)

Decision by StreetEasy, REBNY to stop market clock triggers debate

The Atelier at 635 W. 42nd Street and 70 Charles Street (Credit: Google Maps)

One of NYC’s priciest listings to appear on the market last week is already in contract