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De Blasio’s Latest Sleazy Deal for Well-Connected Landlords

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De Blasio’s Latest Sleazy Deal for Well-Connected Landlords

New York Post April 15, 2019
Urban PolicyPublic Sector ReformHousingNYC

Just when you think Mayor de Blasio’s sleaze can’t get sleazier, it does. His latest real-estate scandal involves the city’s purchase of substandard housing from politically connected slumlords at well above market value. Corruption aside, this deal is terrible policy, ensuring that New York will spend even more money than the billions it forks over each year on its homeless problem.

Lest you think Hizzoner didn’t learn his lesson from previous scandals, he has. In his first term, he didn’t pay a price for his massive giveaway to a downtown condo developer, or for trying to kill the horse-carriage industry at the behest of property owners.

So in his lame-duck phase, he’s ratcheting up: City Hall is handing over $174 million to companies controlled by brothers Jay and Stuart Podolsky to purchase 729 apartments in 21 buildings across Brooklyn and The Bronx.

The buildings mostly serve as “cluster sites” for homeless families; the city wants to convert them into long-term affordable housing, run by nonprofits, for formerly homeless New Yorkers. Blas donor Frank Carone represents the sellers.

Continue reading the entire piece here at the New York Post

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Nicole Gelinas is a senior fellow at the Manhattan Institute and contributing editor at City Journal. Follow her on Twitter here.

Photo by Spencer Platt / Getty Images

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