More Than 50 Affordable Housing Units Preserved In Brooklyn: What To Know

BROOKLYN, NY — New York Attorney General Letitia James, IMPACCT Brooklyn, New York State Homes and Community Renewal and the city Department of Housing Preservation and Development announced the preservation of four Brooklyn buildings containing 57 affordable housing units this week.

The properties, located at 201 Pulaski Street, 709 Lafayette Avenue, 327 Franklin Avenue and 335 Franklin Avenue in Bedford-Stuyvesant, were previously owned by Food First HDFC, Inc.

The Office of the Attorney General intervened in Food First’s bankruptcy proceedings after the nonprofit attempted to sell the properties to a commercial purchaser without the required state and city approvals.

All New Yorkers deserve access to safe and affordable housing,” Attorney General James said. “During a time of great uncertainty and distress for these tenants, I am proud that my office was able to negotiate a sale that allows them to remain in their affordable homes. Thank you to IMPACCT and our partners at HCR and HPD for stepping in to help preserve dozens of units of affordable housing for Bed-Stuy. My office will continue to stand up for tenants and guarantee the right to safe and affordable housing for all New Yorkers.”

IMPACCT Brooklyn will now own and manage the buildings and oversee their complete rehabilitation. All 57 units will remain affordable for at least another 30 years, allowing current tenants to remain in their homes.

HCR is providing a $3 million loan to finance the acquisition, with the funding requiring the units to remain available to low- and moderate-income tenants. HPD will support funding for the rehabilitation of all four properties.