PLEASE TAKE NOTICE that a public hearing will be held on April 15, 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 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 Manhattan.
Address Block/Lot
1727 Amsterdam Avenue 2060/1
Under the Supportive Housing Loan Program, HPD funds the rehabilitation or new construction of buildings which provide supportive housing for the homeless, people with special needs, and other persons of low income. HPD works with the Department of Homeless Services, the Department of Health and Mental Hygiene, the Human Resources Administration’s HIV/AIDS Services Administration, and other public agencies to ensure that the completed projects receive appropriate building security and onsite social services to support residents.
HPD has designated BRC Amsterdam Housing Development Fund Corporation ("Sponsor") as qualified and eligible to purchase and redevelop the Disposition Area under the Supportive Housing Loan Program. HPD proposes to sell the Disposition Area to the Sponsor at the nominal price of One Dollar per tax lot pursuant to Article 16 of the General Municipal Law. The Sponsor will also deliver a note and mortgage for the appraised value of the Disposition Area (“Land Debt”). The Sponsor will then construct one building containing approximately 199 units for occupancy by homeless and low income persons, plus one unit for a superintendent and approximately 21,281 square feet of community facility space on the Disposition Area.
The Land Debt or City’s capital subsidy may be repayable out of resale or refinancing profits for a period of at least thirty (30) years following completion of construction. The remaining balance, if any, may be forgiven at the end of the term.
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.