building at 155 East 34th Street

It's pretty big, at 330 units.

The condo board is suing the sponsor, trying to force the sponsor to sell the unsold units as they become vacant. Over the nearly thirty years since conversion, as the units held by non-purchasing RS tenants became vacant, the sponsor has held onto them and rented them out at market rents rather than sell them.

The sponsor says it's under no obligation to sell, and that it did the condo enough of a favor by splitting its 120-odd units into four chunks and transferring title to four related entities in 2012. The idea was that no one entity would own more than 10% of the condo, and lenders would be happy.

Purchasing a condo unit surrounded by sponsor units is not good.
Neither is having the sponsor controlling the Board, so at least the Board is trying to get the sponsor and those four related entities to sell rather than hold.

tons for rent...why?? problem? these white brick buildings from the 60;s are known to break down