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Breslin Buyouts Hit $150K

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Chelsea Now dips into the war-of-words between Ace Hotel developer GFI and the SRO tenants left over from the building's stint as the Hotel Breslin, and provides some insight into how GFI cleared out some of those rent-stabilized tenants: " least 40 of the rooms at the Ace will likely cost several hundred dollars for a month's stay rather than a night's. Those rooms are occupied by rent-stabilized SRO tenants who refused to take various buyout offers from GFI over the past couple of years. One former tenant, who asked to remain anonymous, took a $150,000 buyout along with approximately 35 other tenants at the end of October. He recalls tenants who took the first buyout offer of just $3,000." [Chelsea Now, previously]