Tenant Buyouts
We have obtained numerous life changing as well as multi-million dollar buyouts for our clients. A buyout occurs when your landlord plans to demolish renovate or occupy the building and/ or apartment that you live in. The negotiation of a maximum life changing monetary buyout is a skill achieved only through extensive experience representing tenants against developers and landlords, such as we possess. There are times when landlords attempt to evict tenants from their apartment for the purpose of demolishing an existing building so as to replace it. Although the law does provide mechanisms for the landlord to achieve this goal, the law also provides tenants with many defenses and opportunities to disprove the landlord’s claim thus leading to a buyout.
Tenants have the opportunity to oppose and challenge the demolition application of their landlord both, administratively before the Division of Housing and Community Renewal (DHCR) and in court so as to prevent the landlord from achieving this goal. This will often take many years thus delaying any plans by the landlord or developer. Tenants will often form a Tenant Group or Association so as to unite their opposition to their landlord’s demolition application thus leading to multiple beneficial buyouts for each and every tenant. We are very experienced in successfully obtaining these life changing buyouts, opposing demolition applications by landlords on behalf of individual tenants as well as on behalf of tenant groups and tenant associations.
Even if successful in its demolition application, it would take the landlord many years to achieve its goal. We can often times successfully cause the landlord’s application to be denied, thereby preventing the demolition. Therefore in most cases, the landlord must offer large “life changing” buy-outs to its tenants.
We are very experienced in negotiating such buy-outs and re-locations at the landlord’s expense.
Due to the fact that buyouts and Demolition proceedings are very complicated and settlements often positively life changing, tenants should not attempt to defend such applications or to negotiate buyouts on their own. Tenants should consult with and obtain attorneys to properly represent their interests.
We are very experienced in representing individual tenants, tenant groups and tenant associations in obtaining buyouts. We have obtained multi million dollar settlements on behalf of tenants whose landlords apply to demolish their buildings and have successfully prevented numerous demolitions.
In opposing demolition applications. We have obtained multi million dollar buyouts on behalf of tenants whose landlords apply to demolish their buildings and have successfully prevented numerous demolitions.
We offer complimentary consultations and you are welcome to schedule your complimentary-no obligation consultation by calling us at 212-921-1600.
