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Originally Posted by !@#$%!
so i read the both sides of the story ...SNIP....now, i understand shit is different in new york-- but is it different enough to justify overthrowing a basic principle of our economic system?
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No one OWNS their property anyway, they just rent it from the State. I guess the basic economic principle you refer to is that housing is a privilege, not a right.
The baseline is that 16 affordable units - rent controlled in some part - were taken out of the market so one rich family can live in the entire building in 60 rooms. I wonder if the City will reward them by reducing the tax rate on the building.
I predict the owner will be so impatient to flip it he will try and circumvent the residency requirements and get sued successfully then (in San Francisco, a landlord kicked out an apt full of people I knew so he could allegedly live there but in 6 months he was renting again at double the price - they all sued and got a lot of money - the landlord was only required to maintain the property as primary residence for a year).