When Landesman signed a one-year lease last April for herself, her husband and infant child, “we never thought we’d be moving so soon,” she said. David Robbins and New York Post Page Six editor Emily Smith. Evacuees reflect a diverse cross-section of Manhattan - among them, public school teacher Kim Landesman, prominent gastroenterologist Dr. Nor would Tashjian say how many fewer units the reconfigured building would have: “It’s too early to estimate, but we will take advantage of combination opportunities when practical and available.”
He wouldn’t “speculate on future occupancy level, which is, in part, tied to the timing of the review and comments on our initial submission.” He said through a spokesperson only that 22 River Terrace was over 90 percent occupied in December and is “approximately 75 percent occupied” now. While the red herring lists 15 units on the third floor, for example, all interior partitions on that now-vacant floor have already been demolished.ĭesigners CetraRuddy, the team behind the Walker Tower conversion, where units have sold for $50 million, are said to have been tapped for 22 River Terrace.Ĭenturion principal John Tashjian refused to say how many units would be emptied. One called it “a complete work of fiction, listing apartments that don’t or won’t exist.”Ĭenturion clearly aims to reduce the current 324 units to an unspecified smaller number of larger, more luxurious ones.
“It is a little unique in that there are very few pure-market rentals and being converted to condominiums,” said Deborah Riegel, a lawyer at Rosenberg & Estis, who represents Centurion at 22 River Terrace.Ī relative few tenants are fortunate to have leases that don’t expire until 2015, and which began before the cancellation riders were added to new leases.īut, tenants howl, Centurion “misled” them with a “non-eviction” plan that proved to be meaningless. But 27-story 22 River Terrace, opened in 2001, is a rare, 100 percent market-rate property because it was built without tax abatements or other subsidies. Rent-stabilized tenants can’t be denied lease renewals. That typical 120-to-180-day process gives the sponsor a four-to-six-month window in which to legally clean house.Ĭenturion also canceled leases signed in late 2013 that included a 90-day cancellation rider - that’s legal, too - inserted by previous landlord Rockrose, which sold the building’s ground lease to Centurion in December for $265 million. Some tenants call it “illegal warehousing.”īut in fact, an obscure and controversial court ruling a few years ago allows a converter to deny market-rate tenants new leases during the time between the “red herring” filing and its approval by the attorney general. Since tenants received a “red herring” in January, Centurion has refused to renew leases and has exercised an option to cancel others. 16D versus $2.07 million to an outsider - they can’t stay as renters, either. Not only will most tenants not have the chance to buy their homes at a discount - for example, $1.76 million as an insider for Apt. That’s the paradoxical plight of hundreds of residents at 22 River Terrace in Battery Park City, a 324-apartment, riverfront tower that New York-based Centurion Real Estate Partners plans to convert to luxury condos.
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