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WANNA BUY SOME BUILDINGS?

ASSET SALES PROGRAM-JUNE 2013 REQUEST FOR OFFERS

Beginning on June 10, the Department of Housing Preservation and Development (HPD) will be offering two small commercial office buildings, 151 East Tremont Avenue in the Bronx and 27 Hooper Street in Brooklyn, for sale through the Asset Sales Program, in as-is condition. The buildings will be offered to the general public through a Request for Offers (RFO) that will be available from June 10 to July 25, and responses are due on July 25. The buildings will be sold to the highest responsible offerers, subject to the City's land use approval procedures. HPD will not provide any subsidies or financial incentives related to the sale, rehabilitation, or redevelopment of these properties.

The Asset Sales Program is HPD's initiative for the sale of residential and commercial buildings that are not appropriate for our affordable housing programs, so that they can be returned to responsible private ownership. Purchasers are not permitted to sell, transfer, or exchange buildings within five years of purchase, without HPD approval, among other requirements. Unlike in previous RFOs for residential buildings, purchasers will not be required to maintain the existing buildings, but will be able to either occupy the buildings or demolish them for redevelopment. Yet, both buildings are in good condition, having recently served as HPD field offices. So this is a tremendous opportunity for small businesses and community organizations as well as for real estate developers.

151 East Tremont Avenue, in the Tremont section of the Bronx, is a two-story building with 13,500 square feet of commercial space. It is located at the corner of East Tremont and Creston Avenues, just off of East 178th Street. It is situated on a 6,750-square foot lot, and the zoning is R8. 27. Hooper Street, in the Williamsburg section of Brooklyn, is a three-story building with about 23,900 square feet of floor area. It is located in an M1-2 zoning district, at the corner of Hooper Street and Wythe Avenue. The lot area is approximately 7,950 square feet.

The RFO will be available for download on HPD's website, nyc.gov/hpd.

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