Habitat for Humanity Big in Bed Stuy


Habitat for Humanity is having a big impact in Bed Stuy, fixing up seven run-down tenements and turning them into affordable and “green” housing for low-income buyers. Apartments will cost from $98,000 to $250,000, and are available to first-time buyers who meet the low income requirements. Terms are sweet: 200 hours of sweat equity per person, a 1 percent down payment, and interest rates of 2 percent. Many of the buildings are LEED certified, with high-efficiency boilers and other cost-saving features. Pictured is 849 Halsey Street, which faces Saratoga Park on the Eastern edge of Bed Stuy. It is on track to be completed in August, as are buildings on Marion and Monroe streets, and owners will start moving in as early as September. Buildings on Ralph Avenue and Bainbridge Street were recently completed. Slated to open next year are apartments on Jefferson Ave. and Madison Street. All are part of Habitat-NYC’s 100 Homes in Brooklyn initiative to turn vacant buildings in Bed Stuy and Ocean Hill-Brownsville into affordable housing.
Habitat for Humanity Investing in 3 Bed Stuy Buildings [Brownstoner]
Habitat Brownsville Project a Game-Changer [Brownstoner]

3 Comment

  • Great projects, great program. Habitat should be put in charge of all of these types of projects. They do a great job, the homeowners are personally invested in the project, and they even manage to rehab and built with a strong concept of preservation and context. Kudos.

  • Great projects, great program. Habitat should be put in charge of all of these types of projects. They do a great job, the homeowners are personally invested in the project, and they even manage to rehab and built with a strong concept of preservation and context. Kudos.

  • Woohoo!!!! Homes are gorgeous and new owners will be great for those of us trying to build up our community. Habitat took these from Isaac Katz, the skeeziest of the skeezy vultures who prey on the Stuy. (check out Brownstoner’s last article on this project). This slumlord emptied our these homes and ran them into the ground. We wonder if any of the people Katz kicked out are the new owners. Wouldn’t that be sweet justice!!!!! Sad, the millions that Habitat paid Katz for these homes will help him buy up and destroy more Stuy buildings. Ah, the road to hell.

    This from the daily news in January of 2008. Same guy. Different year.

    A group of 11 real estate sellers, mortgage brokers, lawyers and appraisers bought dozens of distressed properties in Brooklyn and resold them at inflated prices to unsuspecting minority homebuyers, authorities charged.

    The ring deceived lenders into believing buyers had put down substantial down payments. As a result, banks issued mortgages worth more than the actual sale prices.

    Ringleaders Isaac Katz and Yoel Silberstein used a front man to recruit unsuspecting buyers and peddled the deals as “investment opportunities” with no money down.

    Authorities say Silberstein and Katz bought a home at 686 Cleveland St. in East New York for $205,000 and sold it later the same day for $370,000. The duped buyer defaulted on the loan.

    After being sued, Katz and Silberstein agreed to pay $1.8 million in restitution.

    Read more: http://www.nydailynews.com/news/house-flipping-scammers-continue-swindling-new-york-homebuyers-article-1.343947#ixzz22isctKDm