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Mayor’s Plan Tested in East Harlem | Real Estate News
Published 3 weeks ago
Description
Mayor Zohran Mamdani’s bold plan to rescue distressed properties is hitting its first major test in East Harlem, where the city is backing a bid from affordable housing developer Spatial Equity Co. to acquire 38 rent-stabilized buildings in foreclosure — a move that embodies the mayor’s broader strategy to transform blighted assets into stable, affordable communities.
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