State Senator Brad Hoylman-Sigal merges units to establish new co-op in Manhattan.
State Senator Brad Hoylman-Sigal, a prominent advocate for affordable housing in New York City, finds himself at the center of a controversy following revelations about his personal real estate holdings. Despite his vocal support for addressing the city’s critical housing shortages, Hoylman-Sigal has consolidated multiple properties in a high-end co-op in Greenwich Village, ultimately creating a lavish apartment valued at several million dollars.
Between 2006 and 2016, Hoylman-Sigal and his husband merged three separate apartments to form a single expansive residence spanning approximately 2,000 square feet. The property boasts three bedrooms and three bathrooms; while no official market value is listed, estimates suggest that it would likely sell for a substantial sum, given the desirability of the location.
Hoylman-Sigal, who represents a significant portion of Manhattan’s West Side, has been a fierce critic of rent increases faced by stabilized tenants and the city’s alarmingly low vacancy rates. Presently, he is campaigning to become the Manhattan Borough President, competing against current City Council member Keith Powers.
In discussions regarding the affordable housing crisis, Hoylman-Sigal has previously addressed the issue of apartment consolidation, which detracts from the city’s overall housing stock. During a podcast in 2019, he expressed concerns about how wealthy individuals have been merging multiple units to create opulent living spaces. He acknowledged that such practices disproportionately impact lower-income families, forcing them out of their homes.
The senator cited notable examples, including that of Sean Parker, a co-founder of Facebook, who made headlines for consolidating three townhouses in Greenwich Village into a single luxury property. Hoylman-Sigal lamented the socio-economic implications of such developments, emphasizing the displacement of long-term residents as a distressing reality of these real estate practices.
In a recent statement, the senator addressed concerns surrounding what is termed “Frankensteining,” a practice that exploits loopholes within rent-stabilization laws, allowing landlords to merge or modify apartments, often resulting in significant rent hikes. New legislation passed at the end of 2023 aims to mitigate such issues, reflecting Hoylman-Sigal’s commitment to tenant rights.
Hoylman-Sigal’s campaign manager, Caroline Crowell, defended his record on housing, highlighting recent efforts that resulted in securing over 500 new units of supportive and affordable housing within his Senate district. In contrast, she noted that his opponent managed to secure only nine units in his own district. Furthermore, Hoylman-Sigal clarified that he no longer resides in the apartment in question, having relocated last year due to changes in district boundaries.
As the political landscape heats up, the discourse surrounding affordable housing continues to dominate conversations in New York City, with debates intensifying over the responsibilities of elected officials in addressing the needs of their constituents amid a challenging housing market.
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