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Read the press release here.

Owner of 13-Building Stretch in Inwood Has 'Zero Interest' in Rezoning

By Carolina Pichardo | January 6, 2017 3:07pm | Updated on January 9, 2017 9:00am
 BSF Inwood Holding LLC said they have
BSF Inwood Holding LLC said they have "zero interest in any rezoning or redevelopment" of the newly-purchased 13-building multifamily portfolio.
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DNAinfo/Lindsay Armstrong

INWOOD — The new owner of a stretch of 13 buildings in Inwood that sold last month for $63.6 million told DNAinfo New York they have “zero interest” in any rezoning or redevelopment efforts for the properties, a spokesman said.

Marc Landis of Phillps Nizer LLP, attorney for new owners BSF Inwood Holding LLC, said in a statement to DNAinfo New York that “BSF has zero interest in any rezoning or redevelopment of these buildings.”

The owners “are experienced multi-family owner-operators with a long-term investment horizon," Landis added.

“They look forward to maintaining good relationships with the building residents and the community.”

In addition, Landis revealed the addresses of the specific properties — none of which officially fall within the area currently under consideration for rezoning by the city's Economic Development Corporation as part of Mayor Bill de Blasio's Inwood NYC Neighborhood Study.

The properties — which contain 352 units and two stores — include:

► 109, 113, 117, 121, 125, 129 and 131 Sherman Ave.

► 22, 26, 30, 34 and 38 Post Ave.

► 66 Vermilyea Ave.

Eastern Consolidated, the Manhattan-based commercial real estate firm handling the sale had previously declined to release the specific addresses as well as the identity of the buyer or seller.

Graham Ciraulo of Northern Manhattan Is Not 4 Sale said some of the units involved in the sale are rent-stabilized.

"When these buildings went up for sale this past summer, it confirmed our fears that real estate developers were already speculating on huge market increases following Sherman Plaza and the Inwood NYC rezoning plan," Ciraulo said. "We understood that the real estate frenzy created by these projects would ultimately result in a net loss of affordable housing for the neighborhood."

In addition, he said if developers get rid of the rent-stabilized units in the existing buildings, that would be a loss of "more affordable housing than the developers of Sherman Plaza ever promised" to create, referring to a failed bid by City Hall to rezone 4650 Broadway to build bigger than existing zoning in exchange for affordable housing.

"If City and State won't fight to preserve our affordable housing, then the people of the community will do it ourselves," Ciraulo said.