Notice Details

Pursuant to Section 695(2)(b) of the General Municipal Law and Section 1802(6)(j) of the Charter, notice hereby is given that the Department of Housing Preservation and Development ("HPD") of the City of New York ("City") has proposed the sale of the following City-owned property (collectively, "Disposition Area") in the Borough of Manhattan:

 

Block      Lot         Address

1954       55          410-18 West 128 Street

1907       8            157 West 122 Street

1913       p.o.40    116-18 West 129 Street

1916       25          111 West 131 Street

 

Under HPD's Multifamily Preservation Loan Program, sponsors purchase and rehabilitate City-owned vacant and/or occupied multifamily buildings in order to create affordable rental housing units with a range of affordability.  Construction and permanent financing is provided through loans from private institutional lenders and from public sources, including HPD.

 

HPD has designated MLG 904 Development LLC ("Sponsor") as qualified and eligible to purchase and redevelop the Disposition Area under the Multifamily Preservation Loan Program.  HPD proposes to sell the Disposition Area to the Sponsor at the nominal price of one dollar ($1) per tax lot.  The Sponsor will deliver an enforcement note and mortgage to the City for the remainder of the Disposition Area’s appraised value (“Land Debt”).  The Sponsor then will rehabilitate four (4) multiple dwellings in the Disposition Area.  When completed, the project will provide approximately eighty-three (83) rental dwelling units, including one (1) superintendent unit.

 

The appraisal and the proposed Land Disposition Agreement and Project Summary are available for public examination at the office of HPD, Room 5-A4, 100 Gold Street; New York, New York on business days during business hours.

 

PLEASE TAKE NOTICE that a public hearing will be held on November 16, 2016 at 1 Centre Street, 20^th Floor Conference D (North Elevator) Manhattan at 10:00 a.m., or as soon thereafter as the matter may be reached on the calendar, at which time and place those wishing to be heard will be given an opportunity to be heard concerning the proposed sale of the Disposition Area pursuant to Section 695(2)(b) of the General Municipal Law and Section 1802(6)(j) of the Charter.

 

Individuals requesting sign language interpreters should contact the Mayor's Office Of Contract Services, Public Hearings Unit, Room 915, 253 Broadway; New York, New York 10007, (212) 788-7490, no later than seven (7) business days prior to the public hearing.  TDD users should call Verizon relay services.

 

Publication Date: October 12,  2016