After battling in court since 2003, this family is finally able to turn their 60 room apartment building into one gigantic home for themselves. Of course, the beneficiaries of the rent-controlled apartments don’t believe the owner’s family should have the right to live in their own building.
New York Post – VILLAGE TENANTS ‘HOUSE BROKEN’
The Court of Appeals found that Alistair and Catherine Economakis can go ahead with eviction proceedings against their low-income tenants at 47 E. 3rd St., as long as they plan to use their apartments for themselves.
“We’re all working people, your typical, moderate-income working people. For them to want to kick us out so they can have a luxury mansion – it’s ethically and morally unconscionable. I don’t know what other word to use,” said David Pultz, 56, who’s lived in the building for the past 30 years.
Pultz said he pays $625 a month for his one-bedroom apartment, and is concerned that if he gets booted, he’ll have to leave the city.
(that’s about 1/4 -1/3 the market rate for that neighborhood)
“At a time of a really grave housing shortage, it’s a matter of serious concern that an owner can be permitted to obtain 15 apartments for his own use,” he said, adding that in the rest of the state, owners can’t claim more than two apartments for themselves.
As I described in Rent Control Part 3, rent control creates this type of class tensions between the property owners and the “entitled” class tenants. It seems completely silly that the landlord has to go to such extremes to get out of the burdens of rent control, but can you blame him? Compared to buying a new home, it probably cost him next to nothing in lost revenue to evict the tenants.
Here is a link to the owner’s website: http://www.economakis.com to read their story. Thanks to Mary Shloman for the tip.
check out the owners web site too: http://www.economakis.com
check out the owners web site too: http://www.economakis.com
Thanks Mary!
I’ll actually add the link to the post too.
Thanks Mary!
I’ll actually add the link to the post too.
Property owners being allowed to live on their own property? Ludicrous!
Property owners being allowed to live on their own property? Ludicrous!
Why of all the nerve! People with more money have the divine right to demand whatever they want and get it. And if a big corporation with even more money has a better use for this building then they have the right to take it by eminent domain.
Why of all the nerve! People with more money have the divine right to demand whatever they want and get it. And if a big corporation with even more money has a better use for this building then they have the right to take it by eminent domain.