Some Brooklyn apartment buildings to be converted into condos

Apartment buildings throughout Brooklyn are being converted into condominiums and some worry they will not be able to afford to live in certain areas. According to the state, converting apartments to

News 12 Staff

Jan 10, 2006, 3:02 PM

Updated 6,713 days ago

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Some Brooklyn apartment buildings to be converted into condos
Apartment buildings throughout Brooklyn are being converted into condominiums and some worry they will not be able to afford to live in certain areas.
According to the state, converting apartments to condominiums is a growing trend in Brooklyn. In a conversion, long-term, rent-stabilized tenants get a chance to buy their apartments. Many building owners say it is more profitable to sell an apartment unit than a whole building.
However, many tenants on fixed incomes say the prices owners are asking for apartments are too high. Most rent-stabilized tenants cannot be evicted if a building is converted into condos. But some say landlords ignore their maintenance needs because they prioritize apartment renovations for new condo owners.


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