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

Some clients are turned off by properties frequented by panhandlers

TRD 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

Clockwise from top left: 3860 Nostrand Avenue in Brooklyn, 50 Manhattan Avenue and 250 and 254 West 23rd Street (Credit: Google Maps)

Here’s what the $10M-$30M NYC investment sales market looked like last week

Jason Lee and a rendering of 517-523 West 29th Street

Developer Jason Lee accused of defrauding investors at High Line condo project

416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case

206 West 17th Street, 116 7th Avenue, and Extell Development’s Gary Barnett (Credit: Google Maps)

What rich people in NYC will pay to keep their view: TRD analysis

Extell Development's Gary Barnett (Credit: Getty Images and iStock)

Chelsea residents paid Gary Barnett $11M to protect their views from a planned tower

Dream Hotel Group's Sant Singh Chatwal (left) and Charles Holzer (right) and 355 West 16th Street (Credit: Getty Images and Google Maps)

Land under Dream Downtown hotel sells
for $175M

Gibson Dunn & Crutcher's Randy Mastro (Credit: Getty Images)

Billionaires’ Row NIMBYs lean on Cuomo to stop shelter

From left: Jamestown’s Michael Phillips with the Milk Building at 450 West 15th Street and Google’s Sundar Pichai with the Chelsea Market building at 75 Ninth Avenue (Credit: Google Maps; Phillips via CoStar; and Pichai via Getty)

Google scoops up another Jamestown property in Chelsea for $600M