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New Developments in the News

DECEMBER 20, 2010

Aby Rosen plans to go condo with Park Avenue rental building; city homeless aid organization tracks aid recipients in controversial test

High-profile real estate developer Aby Rosen recently acquired the residential building at 530 Park Avenue and has announced plans to convert the building’s 139 rental units to luxury condos. Rosen expects the new residences to be ready in about a year.

A number of participants in the city’s Homebase program are being denied aid to determine whether they end up homeless as a result in a study by the Department of Homeless Services. The study is part of a program intended to evaluate social welfare programs. The controversial experiment has raised the ire of some opponents like Brooklyn Borough President Scott M. Stringer, who feels the city may be “making guinea pigs out of its most vulnerable.”