The Real Deal New York

Residents at the Cobble Hill Towers, the moderate-income rental building at 431 Hicks Street, are riled over a plan to transform their Brooklyn home into a luxury condo building, according to the Brooklyn Paper. Developer Hudson Companies is offering reduced prices for current residents, ranging from $230,000 for a studio to $595,000 for a three-bedroom, but this has done little to quell outrage among many of the tenants, who see the move as another unwelcome sign of gentrification. The nine-building, 188-unit complex was originally built as affordable housing in 1879. [Brooklyn Paper]