Firm looks to buy out LES’s Knickerbocker Village for $250M

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A real estate firm is looking to purchase a huge affordable housing complex on the Lower East Side for $250 million. Tenants at Knickerbocker Village say a New York City-based real estate company has met with them several times about buying their 1,590-unit rental complex, according to Bob Wilson and Al Molinet of the Knickerbocker Village Tenants Association. The residents say they balked at the $250 million the company offered, judging it too high for the prospective buyers to maintain affordability at the property. more By Adam Pincus