Hundreds of Crown Heights apartments will remain rent-stabilized for the next 30 years thanks to a new agreement reached between the city and the owner of the property, DNAinfo reports.
The agreement pertains to the Brooklyn Jewish Hospital complex, a six-building development on Prospect Place. For now the agreement only pertains to five of the six buildings, but that’s still a huge victory for tenants considering the complex comprises of some 700 apartments.
The deal came after two years of negotiations between the city, tenants, elected officials, and the landlord, Alma Realty. The landlord, it appears, was initially hesitant to extend the agreement on the rent stabilized units, and had proposed a rent hike in 2014. However months of campaigning by local residents and elected officials put pressure on the developer to have a change of heart.
Last year, the City Council approved a tax exemption for the complex, which seems to have made it all the more easier for all the parties concerned to come to an agreement.
Now, residents making no more than 135 percent, 150 percent, and 165 percent will be guaranteed rent stabilized leases for the next 30 years, depending on the various buildings. The news was first announced in letters sent to tenants by Alma Realty at the end of June this year. An agreement on the building at 713 Classon Avenue has yet to be reached, but is expected to happen in the next 90 days.