Other buildings in the J-51 program

Condos are specifically not subject to rent stabalization because of J-51. I don't know about those particular condos, but if they were conversions of vacant unstabalized residential buildings into condos with major capital improvements that made them eligible for J-51, then no problemo. If the sponsors used destabilized units while receiving J-51 prior to the condo conversion, that may be an issue.

Sorry, If the sponsors destabilized units through vacancy or luxury decontrol while receiving J-51 prior to the condo conversion, that may be an issue.

NYC10023: Can you share the source of that information?

Data on all buildings receiving J-51 are here:

http://www.nyc.gov/html/dof/html/property/property_tax_reduc_j_51.shtml

Yep, that's where I pulled the data.

It boggles the mind. What does it mean if the sponsors of the Ansonia received J-51 benefits, and thus illegally de-rent-stabilized some units, which have now been condos for years? As far I can tell, the sponsors of the Ansonia have been selling units as they become vacant, and do not have any FM rentals.

10023, it does boggle the mind.

Thanks for the link. The implications at the Ansonia are indeed potentially daunting. I don't see Avonova (219 West 81st) on the list. The Barrington next door (203 West 81st) is on there.

Ah, my mistake - I thought Avonova was 203. But this is why I need to read the opinion. The articles aren't too clear on the implications. So, if the sponsors of the Ansonia benefited from J-51, yet took those vacant, previously RS/RC apts out of rent-stabilization by selling them - is that the same as taking apts out of RS stabilization with rent increases?

Barrington - same story, ditto 230RSD and 215W90. I thought I saw a few of those Park West Village apts on CPW on the list as well.

I pulled up a typical statement of account for one apt at the Ansonia (btw, Ansonia known for comparatively low taxes):

http://nycprop.nyc.gov/nycproperty/StatementSearch?bbl=1011651867&stmtDate=20090828&stmtType=SOA

It looks like each condo is still receiving an allocation of the J-51 abatement for the building. Hmm.

The decision: http://www.nycourts.gov/ctapps/decisions/2009/oct09/131opn09.pdf