An acquaintance of mine (a wealthy rent-stabilized tenant) is boasting about how he will sell his "right" to purchase his apartment to an outside buyer and make a ton of money. His building is a condo conversion. He didn't think he'd get a good-enough buyout so he is selling his rights to buy his apartment. Is this crap even legal? The system is so messed up. People in this city struggle to pay... [more]
An acquaintance of mine (a wealthy rent-stabilized tenant) is boasting about how he will sell his "right" to purchase his apartment to an outside buyer and make a ton of money. His building is a condo conversion. He didn't think he'd get a good-enough buyout so he is selling his rights to buy his apartment. Is this crap even legal?
The system is so messed up. People in this city struggle to pay insane rents, while others cash-in because of an unfair and corrupt seniority rule.
I am linking to this previous thread about someone trying to sell their lease. Not the same thing, but very similar.
http://streeteasy.com/nyc/talk/discussion/8979-this-is-why-rent-regulation-must-end[less]
