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March 24, 2014
John Tashjian, Principal
Centurion Real Estate Partners, 595 Madison Avenue, New York, NY 10002
Dear Mr. Tashjian,
As elected representatives for the area, we are writing to express our concerns regarding a condominium conversion plan for a building located in our districts, 22 River Terrace, that was submitted by your company, Centurion Real Estate Partners (CREP) to the New York State Attorney General’s office in January for review.
We have reviewed the “red herring” that was distributed to residents, which states that the conversion would take place under a non-eviction plan and that insider pricing would be offered for current residents. However, we have heard reports from residents that during the current review period for the conversion plan, Centurion has begun refusing to renew tenants’ leases and triggering 90-day early expiration clauses in leases signed. To us, these actions strongly resemble warehousing of apartments, and it is our understanding that it is illegal for an owner to warehouse apartments as they prepare for a conversion.
Your actions appear to us to violate the spirit of the agreement you have submitted to the Attorney General’s office and the protections that are normally provided tenants in buildings undergoing conversions. It is very hard for us to understand how it can be legitimate for your company to submit a non-eviction plan and then proceed to effectively evict a large number of their tenants.
We would like to request that you cease your early termination of leases and give the tenants at 22 River Terrace, including those you are trying to terminate, the-opportunities they should properly be offered under the non-eviction plan you submitted to the Attorney General’s Office.
Thank you for your attention to our concerns.
Deborah J. Glick, Assembly Member, District 66, New York State Assembly
Margaret S. Chin, Council Member, District 1, New York City Council