Tenth Avenue and Forty Second Street
At the corner of Forty-Second Street and Tenth Avenue sit five historic apartment buildings whose tenants have been buffeted by harassment, foreclosures and fires. With a pricetag of $3 million on the structures, many hands are reaching for them. Tenants, however, can be a stubborn lot.
The trustees of New York City’s public employee pension funds, who hold $12 billion in assets, are currently pondering several plans that could provide $100 million or more in financing for housing rehabilitation and small business development in the five boroughs.
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