■REAL ESTATE New program to restore rent-regulated apartments to buildings in western Queens BY ANGY ALTAMIRANO A group of state and city officials are getting together to crack down on landlords throughout the five boroughs — including a handful in western Queens — who they say could be breaking the law. State Attorney General Eric T. Schneiderman, Gov. Andrew Cuomo and the city’s Department of Housing Preservation & Development Commissioner Vicki Been announced Aug. 26 that notices were sent out to 194 building owners throughout the city who accepted “lucrative” tax breaks under the state’s 421-a program without complying with the law’s rent regulation requirements by registering their apartments as rent-regulated. The state passed Section 421-a of the Real Property Tax Law in 1971 as a way to motivate the construction of rent-regulated housing and condominiums in New York City. The law gives a partial exemption from city property taxes for the owners of these newly constructed residential multi-family buildings for at least 10 years. The owners of these buildings, found throughout the five boroughs and most of whom own one building of less than 50 units, provide housing to more than 2,400 families and individuals who are entitled to rent-regulated leases under the law. A high concentration of these buildings are found in Brooklyn and Queens, with neighborhoods that include Astoria, Long Island City, Corona and Elmhurst. “Landlords of rental buildings who accept these tax incentives must follow through on their end of the bargain and offer rent-regulated leases to their tenants,” Schneiderman said. “The Real Estate Tax Compliance Program we are announcing today will safeguard tenants’ rights, protect more than 2,000 units of New York City’s rent-regulated housing stock, and ensure that our important and limited tax dollars are properly spent.” The notices, which were sent out Aug. 25, alert building owners to the possible legal consequences they face, including revocation of the tax breaks, if they do not register the apartments as rent-regulated and give tenants rent-regulated leases. In the letter, the owners are also given details on the one-time, non-negotiable chance they have to “cure the violations” and “avoid further enforcement action.” The governor’s Tenant Protection Unit (TPU) will monitor the registrations filed by the owners. If the owner fails to register properly, TPU could then look into putting an administrative order freezing current rents, along with pursuing overcharge actions against the owners for collecting improper rents. TPU will also seek damages on behalf of tenants. “We will not tolerate landlords who break the law and deny their tenants rent-regulated leases, plain and simple,” Cuomo said. “This partnership will help ensure that building owners who benefit from the 421-a program are living up to their responsibilities. Owners who are not currently in compliance should get their act together immediately or face the real possibility of having the TPU freeze rents, pursue overcharges and seek damages.” Kaufman Arts District’s first luxury condominium HITS MARKET BY ANGY ALTAMIRANO A luxury condominium — the first of its kind in the newly designated Kaufman Arts District —has hit the market and seen instant success in just one week. Real estate firm Modern Spaces has began sales for The Marx, located at 34-32 35th St. in Astoria, and in the first week 20 percent of the building has already been sold. The Marx offers 33 one- and twobedroom units at prices starting in the $600,000s and two-bedroom apartments priced under $1 million. “The Kaufman Arts District is an established, dynamic neighborhood that gives people access to the best creative institutions the city had to offer. Living at The Marx presents a unique opportunity to move into a vibrant Astoria neighborhood that is rich with amenities, dining and service retail to serve the families that have long called the area home,” said Eric Benaim, CEO of Modern Spaces. The building features homes with open layouts and hardwood floors, and many of the apartments have private terraces. Kitchens feature custom cabinetry, a breakfast bar and high-quality appliances. Master bathrooms include rainhead and hand-held glass-enclosed showers and heated towel bars. Amenities at The Marx include a rooftop terrace with gas Weber grills, a private bike room, a fitness room, a virtual doorman security system and laundry facilities. “We are very excited that The Marx has appealed to so many buyers. It’s the first luxury development that has opened since the area has been designated the Kaufman Arts District and shares the same streets where popular shows such as ‘Orange is the New Black,’ ‘Nurse Jackie’ and ‘Sesame Street’ are filmed. We think the building — like its entertainment neighbors — will be a big hit for many different types of buyers,” Benaim said. The seven-story condominium, which is being developed by a joint venture between Kaufman Astoria Studios and Procida Companies, gets its name from the property’s history located on the site where the Marx Brothers filmed movies such as “Animal Crackers” and “Coconauts.” The Kaufman Arts District, designated in 2014, includes institutions such as Kaufman Astoria Studios, Museum of the Moving Image and the Queens Council on the Arts. “We’re thrilled to bring even more life to this thriving and historic neighborhood. Hundreds of professionals visit and work in our studios, and many have fallen in love with Astoria and all it offers,” said Hal Rosenbluth, CEO of Kaufman Astoria Studios. “We’re delighted to offer the homes at The Marx to our regular constituents and newcomers alike.” Image courtesy of Modern Spaces
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