The city wants to acquire Gregg Singer’s EV dev site. There’s one major problem

Singer says he has no intention of selling

New York /
Oct.October 16, 2017 03:20 PM

Mayor Bill de Blasio has announced a plan to buy back a former East Village elementary school to prevent it being turned into dormitories, but he has a pretty big obstacle to overcome: the owner says he won’t sell.

Developer Gregg Singer wants to convert 605 East Ninth Street into dorms for Adelphi University, despite strong opposition from community groups and officials. At a town hall forum last week, the mayor said he wanted to “right the wrongs of the past” by re-acquiring the building, DNAinfo reported.

“For the administration to put that building into private hands failed miserably, and we’ve seen the negative affect that has had on the community,” de Blasio said of the Giuliani administration’s decision to sell the property, according to the website.

However, a representative for Singer said the city is trying to be a “bully” and the developer has no intention of selling. She added the property has been appraised at $60 million, and Singer has spent $80 million on maintaining it.

Singer bought the 152,000 square-foot building from the city in 1998, but deed restrictions meant it couldn’t be turned into residential housing. He then reached a deal to turn it into dorms.

Construction was put on hold in 2015. The city’s Department of Buildings put a stop work order on site, claiming that Singer had not conformed with the agency’s “dormitory rule.” [DNAinfo]Miriam Hall


Related Articles

arrow_forward_ios
Judge Christina Ryba and Housing Justice For All’s Cea Weaver (NYSBA, iStock)
Ruling stops good cause eviction’s spread across NY
Ruling stops good cause eviction’s spread across NY
44th U.S. President Barack Obama (Getty Images, iStock/Photo Illustration by Steven Dilakian for The Real Deal)
Barack Obama blasts liberal NIMBYs
Barack Obama blasts liberal NIMBYs
Extell Development's Gary Barnett and 171-179 East 86th Street (Extell Development, iStock)
Checkmate for Papaya King: Extell files demo plans on UES
Checkmate for Papaya King: Extell files demo plans on UES
Marble Collegiate Church, HFZ's Ziel Feldman and Vanbarton’s Gary Tischler (Getty, iStock)
Church seeks to escape hellish partnership with HFZ
Church seeks to escape hellish partnership with HFZ
A photo illustration of the Gowanus neighborhood (iStock)
Judge OK’s Gowanus rezoning, calling opponents late and off base
Judge OK’s Gowanus rezoning, calling opponents late and off base
Kathy Hochul, Samy Nemir Olivares, Lee Zeldin, Nikki Lucas, Keron Alleyne, Erik Dilan (Getty Images, iStock, Nikki Lucas, Keron Alleyne, Samy Nemir Olivares, Facebook)
Real estate’s election winners and losers
Real estate’s election winners and losers
From left: Howard Lorber, Bess Freedman, Ryan Serhant, Eddie Shapiro, and Robert Reffkin (Douglas Elliman, SERHANT, Compass, Getty Images, Brown Harris Stevens, iStock)
Brokerage execs condemn SCOTUS ruling, pledge to cover abortion costs
Brokerage execs condemn SCOTUS ruling, pledge to cover abortion costs
From left: CHIP’s Jay Martin; Met Council on Housing’s Kate Ehrenberg (CHIP, Met Council on Housing, iStock)
Rent stabilization: dysfunctional by design
Rent stabilization: dysfunctional by design
arrow_forward_ios

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

Loading...