Spike in city’s homeless population is cramping brokers’ style

Some clients are turned off by properties frequented by panhandlers

New York /
Oct.October 14, 2015 11:30 AM

An increase in the city’s homeless population is making New York City a harder sell to some prospective buyers.

The city’s homeless shelter population is the highest it’s been since the Great Depression, according to the Coalition for the Homeless. Some brokers lament that clients are more reluctant to buy or rent in certain neighborhoods, due to the fairly constant presence of homeless individuals around lobbies or outside certain buildings, DNAinfo reported.

Broker Philip Scheinfeld of Miron Properties told the website that a client poised to buy a loft in Chelsea listed for $2.5 million backed out after leaving the West 25th Street building.

“They saw a guy who didn’t have his shirt on, who was passed out face down with a beer in hand in broad daylight,” he said.

Other brokers recounted instances where clients were turned off by properties after they saw a homeless person nearby or were approached by someone asking for money.

More than 50,000 people slept in the city’s shelters Friday night, according to the Department of Homeless Services daily report. Earlier this year, Mayor Bill de Blasio pledged to spend $1 billion more on homelessness in the over the next four years. [DNAinfo] — Kathryn Brenzel


Related Articles

arrow_forward_ios
Hugh Jackman and 100 Eleventh Avenue #PHA (Getty, StreetEasy)
Hugh Jackman buys penthouse at Jean Nouvel tower
Hugh Jackman buys penthouse at Jean Nouvel tower
Jay and Stuart Podolsky with the Marcel in Gramercy at 201 East 24th Street (Getty, Google Maps)
Controversial Podolsky brothers ink more city business
Controversial Podolsky brothers ink more city business
160 West 24th street with Greystar’s Bob Faith and CBRE Investment’s Chuck Leitner (Streeteasy, Greystar, CBREIM)
CBRE snaps up $245M Chelsea apartments
CBRE snaps up $245M Chelsea apartments
From left: 121 West 26th Street, Watermark’s Brendan Medzigian and Two Kings Principal Christopher Wang (Google Maps, Watermark , LinkedIn)
Watermark Capital sells Holiday Inn in Chelsea for $80 million
Watermark Capital sells Holiday Inn in Chelsea for $80 million
Red Apple Group's John Catsimatidis and 280 Eighth Avenue (Red Apple Grpup, Google Maps)
John Catsimatidis plans mixed-use Chelsea project
John Catsimatidis plans mixed-use Chelsea project
Pier 57 in Chelsea. (Google)
Google opens new Pier 57 to employees, public
Google opens new Pier 57 to employees, public
Robert Gans, 533 West 27th Street and Eli Tabak (Robert's Steakhouse, Google Maps)
Strip club owner alleges Tabak family conspiracy in $100M suit
Strip club owner alleges Tabak family conspiracy in $100M suit
From left: Doug Tiesi, CEO, Argentic, and Ben Ashkenazy, CEO, Ashkenazy Acquisitions, in front of 115 Seventh Avenue (Argentic Investment Management, LoopNet, iStock)
Ashkenazy loses original Barneys building
Ashkenazy loses original Barneys building
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...