Another Residential-Tenant-Buyout Win-Win Story!
December 18, 2015
This is another residential-tenant-buyout win-win story. Itkowitz PLLC represented a gentleman in his seventies. The fellow was still working and very active in his church. He was the second-generation Rent Control tenant in an Upper East Side co-op. Even with SCRIE, this man was finding it hard to pay the rent. Moreover, because the apartment was not the sponsor’s favorite, it was in fairly bad shape. Our client wanted to move, but he needed help doing so. The problem was that the sponsor resented the tenant for succeeding to the tenancy. The sponsor had hoped he would be done with Rent Control when the first generation passed on — some two decades earlier! The bad blood between our elderly client and the even more elderly sponsor made buyout discussions difficult. Michelle utilized her usual blend of reason, courtesy, and patience to bring the parties to a mutually beneficial resolution. Our client moved into an apartment in a building owned by his distant relatives in the Bronx, with a spacious, newly renovated, and sunny kitchen where he can read the Scriptures in the morning over coffee. Most importantly, it is an apartment that our client can comfortably afford, with a little help from the buyout proceeds!
This is another residential-tenant-buyout win-win story. Itkowitz PLLC represented a gentleman in his seventies. The fellow was still working and very active in his church. He was the second-generation Rent Control tenant in an Upper East Side co-op. Even with SCRIE, this man was finding it hard to pay the rent. Moreover, because the apartment was not the sponsor’s favorite, it was in fairly bad shape. Our client wanted to move, but he needed help doing so. The problem was that the sponsor resented the tenant for succeeding to the tenancy. The sponsor had hoped he would be done with Rent Control when the first generation passed on — some two decades earlier! The bad blood between our elderly client and the even more elderly sponsor made buyout discussions difficult. Michelle utilized her usual blend of reason, courtesy, and patience to bring the parties to a mutually beneficial resolution. Our client moved into an apartment in a building owned by his distant relatives in the Bronx, with a spacious, newly renovated, and sunny kitchen where he can read the Scriptures in the morning over coffee. Most importantly, it is an apartment that our client can comfortably afford, with a little help from the buyout proceeds!
