(Read more on the multifamily market.)
NEW YORK CITY-Brokers Build, an organization compiled of city real estate brokers, has joined together with Habitat for Humanity--New York City to raise $1 million to build 11 homes in Brooklyn. The homes are part of a three-building development comprising 41 units, which is a qualifier for a LEED rating.
Brokers Build consists of an advisory board made up of more than 30 leaders in the real estate industry including Louise Phillips Forbes of Halstead, Jim Brawders of the Corcoran Group, Mara Flash Blum of Sotheby's and Jeff Appel of Empire Mortgage. The organization is kicking off its campaign by encouraging every broker in the city to donate at least $25, with incentives for larger donations.
"As real estate brokers in New York City profiting from an unprecedented luxury condominium boom, our goal is to create an affordable housing boom as homeownership is the cornerstone to participating in the American Dream," notes Stan Ponte, chairman of Brokers Build and president of Coldwell Banker Previews International. "Families are required to supply 'sweat equity' by participating in the building of their own home, which eliminates the down payment hurdle and allows hardworking families to become home owners for the first time."
The four-story building is located at 1870 Eastern Pkwy. on the corner of Atlantic Avenue and will include one-to-three-bedroom condominiums. The project is designed by Dattner Architects, with construction including energy-efficient and environmentally friendly materials and design. The building will qualify for a LEED rating, which will allow the homeowners to save up to 30% on their energy bills and raise their families in a healthy home.
"With the help of Brokers Build, this project doubles the number of houses we typically build in a year," notes Josh Lockwood, acting executive director of Habitat-NYC. "With New York's homeownership rate at only 36.6%, these units will offer families living in substandard or overcrowded housing a chance to own an affordable home."
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
