Bronx tenants needing repairs worry new owner will raise rent

Residents who live in a Grand Concourse apartment building say they are happy that a new owner could fix much-needed repairs, but they are fearful

Residents who live in a Grand Concourse apartment building say they are happy that a new owner could fix much-needed repairs, but they are fearful rents could rise.

Residents who live in a Grand Concourse apartment building say they are happy that a new owner could fix much-needed repairs, but they are fearful rents could rise. (1/9/17)

THE BRONX - Residents who live in a Grand Concourse apartment building say they are happy that a new owner could fix much-needed repairs, but they are fearful rents could rise.

Tenants in the apartment building at 888 Grand Concourse say the building went into foreclosure, and a public auction slated for Jan. 9 was postponed until next month.

A new owner could make long overdue improvements, but tenants worry they would then apply for drastic rent increases, forcing them out in a potential "flip" of a valuable property. 

Public Advocate Letitia James released a statement along with Assemblywoman Latoya Joyner and Councilmember Vanessa Gibson saying, "The news that the auction of 888 Grand Concourse is being held off is a welcome reprieve for tenants. Our work is not done, and we must find a long-term solution for the residents of this building. We will continue to work with Madison Realty Capital, Casa, legal services, and other shareholders to keep these hard-working tenants in their homes."

The lawyer representing the tenants has asked housing court to appoint an administrator to oversee building repairs until they are complete.

 

 

More on this topic

NYC Landlord Watchlist

Landlord Watchlist

advertisement | advertise on News 12

Trending Video

News 12 hit the streets to find out, 1 Word on the Street: Worst Highway in NYC
The new 700,000-square-foot headquarters of the online grocery 2 New FreshDirect HQ to open in summer 2017

advertisement | advertise on News 12

More News

Grand Concourse tenants get receiver in ongoing battle for repairs

Grand Concourse tenants are claiming a small victory against a landlord they say was keeping

Tenants in a historic Bronx building are withholding Judge postpones decision on 888 Grand Concourse repairs

Tenants in a historic Bronx building are withholding tens of thousands of dollars in rent

A group of Concourse Village tenants seeking repairs Grand Concourse tenants take landlord to court

A group of Concourse Village tenants seeking repairs to their apartments asked a judge Monday

The Bronx came in second for the worst Public advocate checks in on city's worst landlords

Public advocate Letitia James is checking in on landlords six months after releasing her watch

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE