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my 5 unit co-op's corp is having a hostile takeover by a developer. the 4 other floors are in contract to the developer and they are demanding that i accept their offer to buy my unit and move out. i don't want to move. can anyone help?
Join the Conversation Comments (1)i just moved back from CA with my young kids and i don't want to move again. its a commercial co-op. i don't really care who lives here i just want to stay, moving is a huge project and my kids are finally settled in their home.
Hi
I am a superintendent on the east side looking for a Westside building.
I have 16 years of experience, I am a person of good integrity and very reliable.
joserivera124@hotmail.com
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Dear Jill,
I am a co-op president in Manhattan. Since voting for co-ops is by shares of stock, and if all of the others units have approximately the same number of shares as your unit, it sounds like they will soon have an 80% majority (4 out of 5 units). Unfortunately, it sounds like the battle is lost. My suggestion to you is to hire a lawyer, get the highest price you can, the best move out terms you can and then sell.
If you think about it, do you really want to live in a building with yourself as the only occupied unit?
Sincerely,
Steve
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