![]() ![]() And that’s destabilizing our community,” said East New York Homeowners’ Association Chairperson Albert Scott at an October forum. It is investors that are purchasing homes LLCs that are purchasing homes. But affordable housing advocates and local residents say de Blasio’s plan, approved by the City Council in 2016, only drove more speculators to scoop up homes, jack up prices and push out existing residents. ![]() Home prices in the predominantly Black and Latino neighborhood began to tick up before then-Mayor Bill de Blasio announced his plans to rezone 190 blocks of East New York in 2014, analyses showed. It’s an example of the kind of house flipping rampant in East New York, a transit-rich neighborhood with thousands of two- to four-family homes upzoned by the city in 2016. This time, a real estate agent and mortgage broker bought the home from Dee Cee for $670,000-nearly a half million more than the 2018 sale price. ![]() In August, the property turned over once again. Just three days after that waiting period ended, Sasson flipped the home to another entity, a firm called Dee Cee Property Mgmt & Consultants LLC, for $435,000, records show. Under the terms of the contract, the buyer, Sasson Developer LLC, agreed not to resell the property for more than $234,000 until 90 days had passed. Two decades later, in October 2018, Davis’ estate sold the home for $195,000 in cash to a limited liability corporation. Joyce Davis bought the place for $133,000 back in 1998, property records show. The two-family home on East New York’s Bradford Street has changed hands four times in the past three years, tripling in value along the way. ![]()
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