The Real Deal New York

Posts Tagged ‘affordable housing’

  • A homeless city-dweller and 330 West 95th Street

    A homeless city-dweller and 330 West 95th Street

    The city is vacating roughly 200 homeless New Yorkers from a two-building emergency shelter on the Upper West Side, freeing up at least 100 affordable housing units slated for low-income residents, according to a report. [more]

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  • From left: Atlantic Yards rendering, Bruce Ratner of Forest City Ratner and Goldman Sachs Urban chief executive Gary Cohn

    From left: Atlantic Yards rendering, Bruce Ratner of Forest City Ratner and Goldman Sachs Urban chief executive Gary Cohn

    A trade group for New York’s affordable housing sector is urging Mayor Bill de Blasio to consider whether using union labor for inclusionary zoning projects will do any good, according to an op-ed from member Nancy Lepre. [more]

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  • From left: Mayor Bill de Blasio, 539 West 29th Street and rendering of Two Trees' Domino Sugar site

    From left: Mayor Bill de Blasio, 539 West 29th Street and rendering of Two Trees’ Domino Sugar site

    After 100 days in office, the de Blasio administration is already behind on its goal to create or preserve 200,000 units of affordable housing in New York City. [more]

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  • Jaron Benjamin from the Met Council on Housing

    Jaron Benjamin from the Met Council on Housing

    Only five apartment buildings built in Brooklyn between 2008 and 2012 included below-market-rate units, according to a new report from an affordable housing advocacy group.

    In those five years, 61 buildings built in the borough will receive a total of $158 million in tax breaks, according to the report, released today by the Real Affordability for All Campaign. [more]

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  • Clark-3333-Heritage-Eisenberg

    From left: Ric Clark, 3333 Broadway, the Heritage at 1295 Fifth Avenue and Philip Eisenberg

    The government-sponsored enterprise Fannie Mae holds a confidential, $60 million equity stake in the 3,962-unit apartment portfolio that Urban American and other partners bought for $938 million in 2007, several sources told The Real Deal. [more]

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  • From left: The association owns both 13 and 89 East Third Street

    13 and 89 East 3rd Street

    An affordable housing management group has opened a lottery to pick new tenants for about a dozen East Village co-ops.

    The Cooper Square Mutual Housing Association is offering winners a studio or one-bedroom apartment for “a few thousand dollars.”

    In addition, the dozen whose names are chosen will have to pay a $550 monthly maintenance fee, according to the group’s director, Val Orselli. [more]

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  • 66 Rockwell Place

    66 Rockwell Place

    Dermot Company’s 66 Rockwell Place has revamped its affordable unit offerings and kicked off a second application process, working toward a new April 19 deadline. [more]

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  • 539 West 29th Street (Credit: Curbed)

    539 West 29th Street (Credit: Curbed)

    In addition to an agreement to lift worker wages to a minimum of $11.75 per hour, the Related Companies will devote an entire building on West 29th Street to affordable housing.

    The 139-unit building planned for 539 West 29th Street, initially set up to be 80 percent market-rate and 20-percent affordable, will now offer 100 percent affordable housing whether it receives federal and state subsidies or not. [more]

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  • Rendering of 2139 Seventh Avenue

    Rendering of 2139 Seventh Avenue

    Moving in line with Mayor Bill de Blasio’s push to add or preserve 200,000 units of affordable housing, the city is building a mixed-use development on a vacant lot in Harlem that will offer up all of its residential units to low- to moderate-income tenants. [more]

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  • Walters

    Wendell Walters (left)

    Former Housing Preservation and Development Department assistant commissioner Wendell Walters admitted yesterday in Brooklyn federal court that he received $2.5 million in bribes from affordable housing developers and contractors during his 13-year career.

    Walters, who served during the Bloomberg administration, was arrested in 2011 for charges of racketeering, bribery, wire fraud, money laundering and extortion. [more]

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  • From left: Carl Weisbrod and 606 West 57th Street rendering

    From left: Carl Weisbrod and 606 West 57th Street rendering

    Mayor Bill de Blasio and Planning Commissioner Carl Weisbrod have found a way to squeeze more affordable units out of developers when allowing them to erect taller buildings than zoning laws permit.

    Under the previous Bloomberg administration, the percentage of the building required to be affordable in such inclusionary housing agreements excluded non-residential spaces above the ground floor, like health clubs and retail space.  [more]

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  • From left:

    From left: Carl Weisbrod, Shola Olatoye, Vicki Been and Gary Rodney

    From the March issue: Housing advocates and nonprofit leaders praised Mayor Bill de Blasio’s latest batch of real estate–related appointees last month, saying they would start the march toward fulfilling his affordable housing campaign promises. [more]

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  • The New York State Pavilion

    The New York State Pavilion

    From the March issue: In this month’s feature on government-related real estate news, The Real Deal first takes a look at Queens, where Borough President Melinda Katz has joined the fight to save the New York State Pavilion. In February, she announced plans to put together a task force aimed at saving “The Tent of Tomorrow.” Meanwhile, in Brooklyn, the former psychiatric ward at Kings County Hospital in Crown Heights will give way to an affordable housing complex. See these items and more after the jump.

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  • 333-east-23rd

    333 East 23rd Street

    The president of a Kips Bay affordable housing co-op board is battling to hold onto his four-bedroom unit after allegedly cutting ahead of others on the waiting list.

    A neighbor of president Mark Andermanis filed a lawsuit against him, claiming he violated city rules to secure the apartment at the 748-unit co-op at East Midtown Plaza at 333 East 23rd Street. Andermanis was ordered last year in New York City Supreme Court to return the apartment to Department of Housing Preservation and Development, but he appealed the ruling. The Appellate Division plans to hear Andermanis’ appeal tomorrow.  [more]

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  • From left: Rendering of Domino Sugar refinery redevelopment and Bill de Blasio

    From left: Rendering of Domino Sugar refinery redevelopment and Bill de Blasio

    The deal the City Planning Commission struck with Two Trees Management to redevelop the Domino Sugar refinery in Brooklyn is being declared a win for the city — and real estate interests, too. [more]

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  • From left: David Greenfield and Robert Tierney

    From left: David Greenfield and Robert Tierney

    The Bloomberg administration’s landmarking flurry is partly to blame for the challenge of Mayor Bill de Blasio’s 200,000 units of affordable housing goal over the next decade, according to the new chairman of City Council’s Land Use committee. [more]

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  • Stephen Meister and the Cornell Club at 6 East 44th Street

    Stephen Meister and the Cornell Club at 6 East 44th Street

    New York City’s archaic rent-stabilization and rent-control laws — along with aggressive creation of historic districts and property-taxes that favor ownership — are to blame for the city’s housing shortage and exorbitant rents, according to noted real estate attorney Stephen Meister. [more]

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  • housing-coalition

    From left: Jonathan Westin and developer Martin Dunn

    Real Affordability for All, a coalition of 50 tenants groups and Mayor Bill de Blasio supporters, intends to rally outside City Hall today in an effort to push for more affordable housing.

    The report that will be distributed at the rally shows a substantial gap in the number of units targeting families of four that generate less than $41,000 a year in income. It claims that former Mayor Bloomberg’s policies failed to aid 700,000 residents in households in that lower income bracket. De Blasio’s goal is to build or preserve 200,000 units of low-cost housing under a proposal due in less than two months. [more]

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  • From left: Stephen Green, Bill de Blasio and Stephen Ross

    From left: Stephen Green, Bill de Blasio and Stephen Ross

    Now we know why developers who attended a closed-door meeting with Mayor Bill de Blasio earlier this week seemed encouraged by what they heard. [more]

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  • Jonathan Rose (left) and Adam Weinstein

    From left: Jonathan Rose and Adam Weinstein

    From the February issue: It’s been a long time since affordable housing development was seen as the ugly duckling of the real estate world in New York City. In fact, its status rose under former Mayor Michael Bloomberg’s ambitious plan to develop and preserve 165,000 affordable units.

    Now the sector is poised to get another boost as the city’s new mayor, Bill de Blasio, starts implementing his agenda, which hinges on producing 200,000 affordable units. [more]

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