EXCLUSIVE: Shady Real Estate Clan at Center of New York City’s Plan to Convert Homeless Apartments Into Affordable Housing
The city’s plan to convert nearly 500 “cluster site” homeless apartments into affordable housing hinges on acquiring 17 buildings controlled by the notorious Podolsky family, known for years as one of the city’s worst landlords, the Daily News has learned.
The deal — which Mayor de Blasio announced in December and abruptly placed on “pause” Friday — would involve the city financing the purchase of the properties at market-rate prices. That could cost the city anywhere between $40 million and $60 million or more, based on an analysis of available records.
The Podolskys — whose methods have included maintaining squalid buildings run with rats, raking in millions of dollars from the city to house the homeless, and allegedly forcing tenants from their apartments through intimidation — own dozens of properties throughout the city, including hotels in Midtown.Read more