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75 Henry Street is the 370-unit, 33-story tower you see as you come off the ramp from the Brooklyn Bridge. From the looks of this photo put up on Flickr this weekend, the building is getting caught up on some repairs. We’ve always wondered about this place: For some reason it looks like a building that was built in the Sixties as subsidized middle-income housing, but from the looks of recent sales prices (an apartment on the 21st floor sold for over a million bucks last February), that would appear not to be the case. So what’s the deal on it? GMAP


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  1. The steps at 75 Henry had to be redone because the cement had small bubbles in it, which would have caused cracking down the road. It doesn’t matter if the steps are exactly the same height, because they will be covered with a precast unit soon. Several years ago the tenants at 75 Henry voted to go private. Since there was only one mortgage and the building was well maintained, this was not a huge problem. Those who sell made a large profit but there’s a 10 percent flip tax. 140 Cadman Plaza West, in a similar middle income program, voted to remain subsidized. The city made them an offer which included refinancing and money for capital improvements. (The city did not make this offer to 75 Henry.) This was advantagous to 140 Cadman because they were not in as good a financial position as 75 Henry. Their maintenance charges were always much lower, income requirements were lower, and they had multiple mortgages. The building was not as well maintained as 75 Henry.

  2. There are two towers that look identical in between Henry and Cadman. This one mentioned used to be subsidized and went private a couple years ago. I know someone who bought. The other building (closer to the Brooklyn Bridge) is still subsidized.

    Not sure if this is 75 Henry or on Cadman Plaza, but I know the other one (subsidized) is 140 Cadman Plaza West.