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| photo: Joanna Purpich/Gothamist. trash: Bushburg |
Did you catch this piece about Bushburg Realty? They buy a building complex in Bed-Stuy for (holy crap) $38 million. Residents have long complained about conditions there, so they were hopeful that the promised upgrades would benefit them. It's a Mitchell Lama building, designed when built to be affordable housing. Means-tested housing. To a certain degree, if fit the bill for many, many years. Now, investors see $$$. No surprises. More of the same. I'm pretty sure super-tall Tivoli Towers north of Empire is dealing with the same messola.
Sure glad landlords like THAT don't do business on MY block. Oy gevalt, what's that you say? They're the developer of 50 Clarkson, the vacant lot that has that lovely graffiti-covered wall of falling down plywood on rat infested unsecured premises? You don't say? Well boy howdy, looks like 60 Clarkson has a neighbor! A pal. A buddy. A comrade.
And you wonder why the Q sounds cynical sometimes. There's a shyster or two or ten on every friggin' block right now, smelling profits, laying turds.
3 comments:
Mitchell Lama buildings only have to be affordable for a period of time, after that they can go market.
Had they not had this exit clause, many of them would have never been built.
The greed you seek to eradicate did not start recently, it started at the beginning of time.
Not sure I follow, Mike. I know about the 7 deadly sins. Been guilty of a couple myself from time to time.
I actually don't give a damn about greed in this case. I give a damn about mistreating people. And if you read this story, this is more than greed. It's reprehensible. If you have $38 million to spend, you can make a few improvements and do your best to ensure people don't die in fires due to your negligence. You can be greedy AND ethical. Really, Mike. It's often good business in the long run.
You think they will own this business in the long run?
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