After the effective date of this chapter, no rental housing
units in the City of Hoboken shall be converted to condominium or
cooperative units. This section applies to all rental housing units
which have not been approved by the New Jersey Department of Community
Affairs for condominium or cooperative conversion at the time this
chapter becomes effective.
No tenant shall be evicted from his or her rental dwelling unit
solely because the dwelling unit is converted to a condominium or
a cooperative form of ownership.