Looks like the plan here (almost successful) was to buy the building, evict/pay-off the tenants under the pretext of necessary renovations, then to sell the building empty with a much higher value for being empty.
It’s a fair market transaction (tenants in 5/6 units took the payout), but I couldn’t live within myself doing something like that.
Just another negative example of the sort of scummy activities we see when we legislate a housing shortage.
david676 20:11 on 2021-06-08 Permalink
Looks like the plan here (almost successful) was to buy the building, evict/pay-off the tenants under the pretext of necessary renovations, then to sell the building empty with a much higher value for being empty.
It’s a fair market transaction (tenants in 5/6 units took the payout), but I couldn’t live within myself doing something like that.
Just another negative example of the sort of scummy activities we see when we legislate a housing shortage.