Re:Full Shutdown of L Train to Be Halted by Cuomo
by drugme on Thursday January 03, 2019 @05:54PM
(#18820157)
Landlords would jump to sell their rent-controlled buildings to developers who are champing at the bit.
This is wishful thinking, on a number of fronts.
For example one does not simply "sell" (meaning, in the context of proposed redevelopment: purge all the tenants from) a rent-controlled building in NYC. Or even an existing coop or condo building, for example.
How so? Landlords would jump to sell their rent-controlled buildings to developers who are champing at the bit. City programs are the only thing preventing development from happening.