The 234 Apartment

Each 10 percent increase in Seattle rents leads to 523 more people becoming homeless. Pictured here someone living in one of Nickelsville’s sites. Nickelsville is an encampment run by and for homeless people in Seattle that seeks to provide a safe place for people to stay. In 2015, the homelessness crisis in Seattle was declared by Mayor Ed Murray to have reached a “state of emergency” severe enough to prompt him to request support from the federal government. Two years later, homelessness in the Emerald City is still on the rise as rents across the city and nearby towns continue to soar. The cost of rent in Seattle and the surrounding King County area has exploded in recent years. While luxury condominiums have never been more plentiful, affordable housing that is accessible to working people is difficult to find. According to data compiled by the real estate website Zillow , the average cost of renting a home in King County has risen approximately $800 since September of 2012....

NEW YORK, Aug. 23, 2017 (GLOBE NEWSWIRE) -- Greystone, a real estate lending , investment and advisory company , today announced its closing of a $550,000, 000 permanent Freddie Mac loan made to joint-venture partners The Moinian Group and SL Green Realty Corp . for Sky Residences (“Sky”), one of Manhattan’s premier mixed-use residential buildings . The Greystone Bassuk debt advisory team , led by Richard Bassuk and Drew Fletcher, represented the Borrower and assisted in obtaining the Freddie Mac loan through Greystone’s Affordable Lending team . The transaction marks the largest-ever single-asset tax- exempt financing completed by Freddie Mac and a first-of-its- kind private placement structure that includes permanent financing for hundreds of affordable housing units in New York City. Steve Rosenberg , CEO of Greystone, together with Billy Posey, Joe Mosley, and Jeff Englund, collaborated with Freddie Mac on the structure for Moinian and SL Green, and spearheaded the loan proc...

T wo weeks ago, a Manhattan Supreme Court judge handed down a decision designed to strike fear in the hearts of landlords. Justice James d’Auguste ordered that an independent receiver be appointed to manage two Midtown residential buildings where the landlords allegedly allowed illegal Airbnb rentals to occur. The case, which began when the city sued the landlords in February 2015, has become one of the battlegrounds in a larger war between city enforcement agencies and short- term rental sites like Airbnb. Airbnb, which was recently valued at $31 billion, refuses to release the exact addresses of hosts who break the law by renting their entire apartment for less than 30 days without being present. Without the addresses and names of Airbnb violators , the city mostly targets the owners of buildings that rack up the most illegal hotel complaints from 311 calls and the New York City Department of Buildings. “This entire model—and it was intentional [by the city]—is complaint-drive...