Fifteen months after the first hearing at the Landmarks Preservation Commission (LPC) in January 2012, the CITY & SUBURBAN HOMES FIRST AVENUE ESTATE hardship application is back! The owners continue to claim that they cannot make a profit on this property, and are still seeking to demolish two landmark buildings. They have submitted voluminous additional material that will be examined at a second hearing that has been scheduled for 2:15pm on Tuesday, June 11th. (You can download this material by clicking here.)
The substance of the owner’s position is technical and complicated, requiring FRIENDS to become fluent in such esoterica as MCI and IAI pass-throughs, Vacancy Lease Increases, Preferential Rents, RPIEs, Cost vs. Income Approach, etc. To ensure that we make the most thorough and accurate rebuttal possible, we have again retained HR&A Advisors, along with James Lima Planning + Development, specialists in real estate analysis and the City’s many affordable housing regulations. Against this deep-pocketed and determined landlord, we need the most experienced and sophisticated analysis possible.
We urgently need your support again for this round, after which we expect the LPC will make a decision. Please consider making a donation toward this important effort to save the First Avenue Estate, and the future of every New York City landmark.
Voice your OPPOSITION to this proposal at the Public Hearing:
New York City Landmarks Preservation Commission
Municipal Building, 1 Centre Street, 9th Fl.
Tuesday, June 11th at 2:15pm.
Please arrive 45 minutes in advance to sign up to testify. Each speaker will have three minutes to offer testimony.
Make a contribution toward this important effort: