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The Real Deal New York

Brooklyn real estate firms partner to tackle homelessness

Urban Pads, Brookland Capital, TerraCRG, Aptsandlofts.com to donate to Doe Fund

With homelessness on the rise in the city, some of the biggest names in Brooklyn real estate are pitching in to give a hand to the less fortunate.

Urban Pads, Brookland Capital, TerraCRG and Aptsandlofts.com have committed to donating a portion of their proceeds from the final months of the year to the Doe Fund, the nonprofit founded by philanthropist George McDonald to help the homeless with housing and career opportunities.

“Our happy tenants may have roofs over their heads, but there are too many who unfortunately do not have this luxury,” said Urban Pads CEO Shaya Schtroks.

As of last week, more than 57,000 people – more than 40 percent of whom are children –  were staying in the city’s homeless shelters, and advocates fear that number will climb to peak levels of more than 59,000 in December as the winter weather sets in, the New York Times reported.

Mayor Bill de Blasio has been the target of vocal criticism on the issue, and the city has pushed controversial initiatives such as its “cluster site” program and using city hotels as makeshift shelters.

Brokers have also said that homeless the crisis is making clients reluctant to buy and rent in certain neighborhoods.

The Brooklyn partners plan to donate 2 percent to 4 percent of the commissions from sales, leases and rentals during the fourth quarter. – Rich Bockmann