Law Commons^™

Conversion Of Apartments To Condominiums And Cooperatives: Protecting Tenants In New York, Charles M. Cobbe

University of Michigan Journal of Law Reform

In recent years, the number of conversions of rental apartments to cooperative and condominium ownership has increased dramatically. Such conversions often result in extreme hardships for tenants in the buildings affected. Those who are unable or unwilling to pay the purchase price of an apartment are generally forced to seek other rental accommodations at a time when these are increasingly difficult to find -a problem which becomes especially severe for elderly tenants and those with low incomes. In addition, tenants who purchase apartments may suffer the abuses which often accompany sales of condominium and cooperative units. A further problem in …