For nearly four years Alistair Economakis has been trying to make the building he owns a home for his family.
From day one Alistair has tried to meet with the tenants to discuss their differences and address their concerns. The tenants have refused to ever meet with Alistair and instead they have maintained their position that there is no compromise and they wish to litigate.
Be informed!
The tenants claim ‘The Economakis Plan is a Scam'
FACT:
There is no ‘scam'; Alistair intends to make 47 East 3rd Street his family's home. From day one, Alistair has offered to guarantee this in whatever reasonable manner the tenants would recommend (e.g. tenants would receive any financial proceeds were he to do anything other than make 47 East 3rd Street his family's home). Rather than meet with him to reconcile the matter amicably and obtain additional safeguards that would require Alistair and his family to live in the building (which, though not required were freely offered) the tenants ignored his repeated proposals.
The tenants claim ‘Tens of thousands of rent stabilized tenants will be imperiled
if the Economakises are permitted to succeed with their ploy'
FACT:
This is not a “ploy”. Alistair is heeding the requirements of the law. The tenants however believe that the law should benefit only them and not the owner of the building. It is doubtful that the tenants have any support for their claim that this proceeding imperils “tens of thousands of rent stabilized tenants”. As evidenced by this case, an owner's own use proceeding is costly and time consuming. If the tenants truly believed that the outcome of this case could ‘imperil tens of thousands of rent stabilized tenants' why did they not accept the following settlement offer made to them over one year ago which was as follows:
Alistair offered to cease all legal action and allow six of the remaining nine tenants to remain in the building and maintain their rent-stabilized tenancies. In addition, Alistair would have provided the remaining three tenants (whose apartments would have allowed him to unify his family's current living space in the building) with comparable apartments in the neighborhood at the same rent the tenants were paying with rent stabilized protections and/or financial compensation.
The tenants never even countered this offer. They refused it out of hand, just as they have the numerous other offers Alistair has made throughout the years. Instead, the tenants maintained their steadfast desire to litigate.
The tenants claim ‘Save the Tenement, Fight the Mansion (or your home could be next)'
FACT:
Alistair Economakis is the owner of 47 East 3rd Street . The law allows an owner to reside in the building he owns provided he follows the numerous requirements and ultimately establishes his good faith to live in his building through a trial in a court of law. Moreover, corporations, partnerships and other business entities are not permitted to commence owner own use proceedings. Only individuals that own buildings can commence owner own use proceedings.
The tenants claim ‘Courts overturned a ruling protecting tenants giving the
green light to all landlords to empty apartment buildings with similar scams'
FACT:
This statement is false. But don't take our word for it. Read the decision from the Appellate Division for yourself. Therein, the Court did not rule that any tenants are displaced; the Court ruled that owners do not need to proceed to the Division of Housing and Community Renewal to commence an owner's use case, but rather must proceed in Housing Court as the law states.
Alistair must still prove his good faith to make 47 East 3rd Street his home at a trial and the tenants maintain the right to challenge his good faith intentions to make 47 East 3rd Street his home. The recent Appeals Court decision is nothing revolutionary and does not take any rights away from tenants.
The tenants claim ‘The Economakises are corporate landlords'
FACT:
47 East 3rd Street is the only property that is owned by Alistair and his wife. The property is owned individually with no corporate protections whatsoever. And the tenants know this. How do they know this? Through the days and days that the tenants and their attorneys spent questioning Alistair and his wife during court ordered depositions. The tenants and their attorneys are also in possession of extensive documents which Alistair was required by the Court to provide to them, that also support this.
We believe in stating the facts and the law correctly. Based upon the above, can the same be said of the tenants of 47 East 3rd Street ?