PLEASE TAKE NOTICE that a public hearing will be held on February 11, 2026 at 10:00 a.m., or as soon thereafter as the matter may be reached on the calendar, at which time those wishing to be heard will be given an opportunity to be heard concerning the proposed disposition of the real property identified below. The public hearing will be held via conference call. The public hearing will be held via Conference Call. Call-in #: 1-646-992-2010; Access Code 717 876 299.
Pursuant to Section 695(2)(b) of the General Municipal Law and Section 1802(6)(j) of the Charter, 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 the Bronx:
Address Block/Lot(s)
1640 Anthony Avenue 2888/23
Under the Open Door Program, eligible sponsors purchase City-owned or privately owned land and construct cooperative or condominium buildings affordable to moderate- and middle-income households. Where dictated by lot size, the program may also fund the construction of new one- to three-family homes. Construction financing may be provided through loans from the City ("City Subsidy"), the New York State Affordable Housing Corporation, private lenders and developer equity. The City provides a tax exemption for the homes.
Upon construction completion, the sponsor will sell the homeownership units to households who agree to owner-occupy their units for the length of the regulatory period. If the homeowner sells or refinances during the regulatory period, the homeowner must do so in accordance with HPD requirements intended to preserve the home’s affordability. Upon resale, the homeowner will also be required to sell to a household earning no more than the project’s income limit.
The proposed project consists of the new construction of one building containing a total of approximately 65 cooperative units, plus one unit for a superintendent on the Disposition Area.
Under the proposed project, the City will sell the Disposition Area to Claremont Homeownership Housing Development Fund Corporation (“Sponsor”) for the nominal price of one dollar per tax lot. The Sponsor will also deliver an enforcement note and mortgage for the remainder of the appraised value (“Land Debt”). The Sponsor will then construct one building containing a total of approximately66 units on the Disposition Area.
Upon construction completion and conversion to a cooperative, a community land trust housing development fund company (“CLT”) will acquire the Disposition Area and enter into a ground lease with the HDFC cooperative, which will repay the Land Debt and City Subsidy, if any, attributable to the property by delivering a note and mortgage and/or conditional grant agreement to the City. At such time, HPD may unsecure or forgive all or a portion of the Land Debt, and unsecure, but not forgive, all or a portion of the City Subsidy, based on the appraised value of a homeownership unit and/or, in the case of forgiveness of Land Debt, if HPD determines that the forgiveness is necessary to reduce the taxable consideration for a unit. The sum evidenced by the note and secured by the mortgage will be reduced to zero upon maturity of the Land Debt and City Subsidy, respectively, if the owner has complied with the program’s restrictions.
The appraisal and the proposed Land Disposition Agreement and Project Summary are available for public examination by emailing Margaret Carey at careym@hpd.nyc.gov on business days during business hours.
To make a request for accommodation, such as sign language interpretation services, please contact the Mayor’s Office of Contract Services (“MOCS”) via e-mail at disabilityaffairs@mocs.nyc.gov or via phone at (212) 298-0734. TDD users should call Verizon relay services. Any person requiring reasonable accommodation for the public hearing should contact MOCS at least three business days in advance of the hearing to ensure availability.