East Village Respite

Read the fine print.

With glee we note that tenants of 47 East Third Street have been granted a permanent injunction against their landlord, Alistair Economakis, of Granite Management. According to yesterday’s Metro (hey, it’s free), Mr. Ekonomakis tried to reclaim the five-story, 15-unit rent-stabilized building for a single family–his own. He allegedly was going to renovate the building to include gym, playroom, three bedrooms, a guest suite and a nanny’s quarters.

The Rent Stabilization code allows an owner to reclaim rent-stabilized property for his or her own use–and flip it over three years later without rental protections. But apparently tossing everyone out of the building is too brazen to overlook.

For background, see The Villager‘s earlier coverage.

(Disclosure: Several years ago, Granite Management took us to housing court. Suffice to say, it was unpleasant, and our attitude toward Mr. Ekonomakis is dismal. Remember, when you hear how landlords cannot make any money under rent stabilization, just look at the palace that Mr. Economakis was hooking up for himself.)

-Matthew Grace

East Village Respite