Number 2049 Fifth Avenue is finally going through a gut rehab after years of complaints by tenants. This affordable building by 126th Street was passed off to a developer by the government a couple of years back but things were getting worse every day. Recent articles kind of blame things on the affordable housing developer who inherited the building but this probably a good example of how the city rather have others take over their lower-income buildings or just sign new contracts for developments. Selling things off to another entity is definitely a lot easier than dealing with the difficulties of maintaining a building in the long run. For more on this situation check out this article from the Real Deal earlier in the year:
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