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March 12, 2014- By Steven E. Greer
BatteryPark.TV has exclusively learned that 41 River Terrace (by Stuyvesant High School on Chambers Street) is now up for sale, to be converted to condos from rental. Recall, the nearby 22 River Terrace has just undergone this process.
Battery Park City is rapidly becoming an ownership community rather than a transient rental community.
What are 3 bedroom condos going for at 41 River Terrace?
Thanks for the update.
You write: “Battery Park City is rapidly becoming an ownership community rather than a transient rental community.”
That is true only if the new unit owners live there. Sometimes unit owners are investors who then rent their units. These units are not stabilized for renters as many of the rental buildings in our area are.
There are many Battery Park City rentals under stabilization – allowing renters more reasonable lease increases therefore allowing them to stay in the community (less “transient”).
For a 2012 (currently being updated) list of stabilized rental units in our area see:
This is a useful link