New York City Council fights condo conversions with bill

03/25/2005 | Hotel Interactive ·

The New York City Council this week introduced a bill that would prevent hoteliers from converting more than 20% of a property to cooperative or condominium apartments. More than 15 major New York hotels are planning to close rooms in favor of condo conversions, the council said. The bill reportedly was brought on by union protests about the conversion of the Plaza Hotel to primarily condos.

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