Hasbrouck Heights
Hasbrouck Heights, NJ · Events
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New York Post
Mamdani trying to force distressed building owners to sell to nonprofits — even after creditors refuse
Mayor Zohran Mamdani’s effort to steer hundreds of deteriorating Manhattan apartments into nonprofit ownership has hit a wall — after creditors rejected a $110 million offer from a city-backed developer and pushed the buildings into foreclosure auctions. And despite City Hall insisting the fight isn’t over, the administration has yet to publicly explain how it plans to salvage the deal. At Tuesday’s auction, 14 of 15 East Harlem apartment buildings failed to attract outside buyers, with most reverting to plaintiff US Bank National Association for nominal bids of $500 apiece. One went for $1,000. Mayor Zohran Mamdani’s effort to steer distressed East Harlem apartments into nonprofit ownership has stalled. Gregory P. Mango for The NY Post The building at 417 E. 114th St. sold for $826,000 at Tuesday’s foreclosure auction. Google Maps The only building to draw an outside bidder, at 417 E. 114th St., sold for $826,000 — just $1,000 above the minimum bid and far below its original $1.9 million loan. Nithya Raman’s failed micro-state shows what the next four years hold The properties are part of a troubled 38-building portfolio containing roughly 850 apartments, most of them rent-stabilized, that was previously owned by Emerald Equity Group. The
Streetsblog Capitol Hill
City to Close Bus-Clogged Lane on the Manhattan Bridge
It’s a start, but it’s not “envy-of-the-world” stuff. The city will close one of the Manhattan Bridge’s exit lanes to traffic in the coming months after a spate of high-speed deadly crashes at the span, Department of Transportation officials revealed on Tuesday. But buses routinely clog that particular lane, potentially limiting the closure’s ultimate impact on safety.