The Real Deal New York

City Council approves Crown Heights affordable housing deal

Units at Alma Realty’s Brooklyn Jewish Hospital to be stabilized for 30 years
June 23, 2016 08:30AM

545 Prospect Place in Brooklyn (inset: Alma Realty head Efstathios Valiotis)” width=”570″ height=”350″ /> The Brooklyn Jewish Hospital at 545 Prospect Place in Brooklyn (inset: Alma Realty head Efstathios Valiotis)

The City Council on Monday unanimously approved a deal to waive property taxes for the Brooklyn Jewish Hospital apartment complex in Crown Heights in return for keeping it rent stabilized for 30 years.

Under to the deal between owner Alma Realty and the Department of Housing Preservation and Development, all 700 units will be rent stabilized for 30 years, and will stay so even if new tenants move in.

Alma said at a tenant meeting that the new rent caps would be at $103,560 or $129,450 for a family of four, depending on the building, DNAinfo reports. The former hospital was turned into apartments in the late 2000s.

Last year, tenants at the complex staged a protest against Alma Realty, alleging that the landlord unfairly sued them to get them out of their leases and raise rents. In August, tenant advocacy group Stabilizing NYC named Alma Realty on its “bad landlords” watch list. [DNAInfo] — Konrad Putzier