Ahead of Yorkshire Towers' sale to Stellar Management and Chetrit Group, tenants of the 707-apartment towers at 305-315 86th Street are reporting that current owner Schenider & Schneider have raised rents across the building in an attempt to force out market-rate tenants. DNAinfo reports that some rents in the building were raised up to $1,000, while other tenants were told their leases would not be renewed. About half of the towers' apartments are rent stabilized. NYDN earlier reported that Stellar Management and Chetrit Group arranged to pay $500 million for the towers; the sale has yet to close. What exactly their plans are for the site has not been announced, but mumblings around the building indicate that some tenants were told they had to move because their apartments were being renovated. Maybe Yorkshire Towers is the next luxury conversion site on the Upper East Side.
· Landlord Uses Rent Hikes to Clear Tenants From Yorkshire Towers, Tenants Say [DNAinfo]
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