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OPENPUBLICA · PUBLIC MEETING RECORD

Record of Proceedings

Subcommittee on Landmarks, Public Sitings, Resiliency and Dispositions Meeting - September 8, 2026

City Council — Tuesday, September 8, 2026

BodyNew York City, New York

SessionCity Council

DateTuesday, September 8, 2026

StatusFILED

Video Record

0:00 / 29:34

Transcript — VerbatimClick a timed line to jump · ⧉ to share it

2:06

Okay.

2:07

We get them ready to begin.

2:09

Will the Zoom host please start the webinar?

2:15

Good morning, good morning.

2:16

Welcome to the New York City Council hearing on the subcommittee on landmarks, public sightings, resiliency, and dispositions.

2:22

At this time, please silence all electronics and approach the dais.

2:25

Thank you for cooperation, Chair.

2:27

You may begin.

2:33

Good.

2:35

Good morning.

2:36

Welcome to the meeting of the subcommittee on landmarks, public sighting, resiliency and dispositions.

2:40

I'm Councilmember Christopher Marte.

2:42

I'm the chair of the subcommittee.

2:44

I'm joined today by my colleague, Councilmember Thomas Henry.

2:47

Before we begin today's agenda, I would remind everyone that this meeting is being held in a hybrid format.

2:53

For members of the public who wish to testify remotely, we ask that you first register online and you may do so now by visiting www.council.nyc.gov slash land use to sign up and then sign into the Zoom and remain signed in until you have a testified.

3:13

For anyone with us today in person and wishing to testify, if you have not already done so, please see one of the sergeant of arms to fill out a speaker card, and we will call your name at the appropriate time.gov, include the LU number and or the project name in the subject line of your email.

3:40

Video and audio testimony would not be accepted.

3:50

As such, member of the public shall remain silent unless and until call to testify.

4:41

Approval pursuant to Section 691 of the General Municipal Law and approval of a 40-year Article 11 tax exemption pursuant to Section 577 of the private housing finance law.

4:54

These actions will facilitate the preservation of four buildings, including 77 home ownership units in majority leader of Bray Yu's district in Manhattan.

5:03

Appearing today on this proposal are Emily Adler and Asher Toborowski.

5:10

Good.

5:11

All right, thanks.

5:13

Those wishing to testify remotely must register online by visiting the council website at council.nyc.gov slash land use.

5:21

Panelists, please ensure that the microphone is on.

5:24

You may approach uh the table and council.

5:28

Would you please administer the affirmation?

5:37

Would you please raise your right hand and state your name for the record?

5:43

Make sure the mics are on.

5:48

State your name again.

5:49

Emily Adler.

5:50

Asher Tavarowski.

5:51

And do you affirm to tell the truth the whole truth and nothing but the truth in your testimony before the subcommittee and an answer to all council member questions?

5:58

I do.

5:59

I do.

6:01

Thank you, applicants.

6:02

You might you can begin.

6:04

Okay.

6:05

So we are here today to talk about the to introduce and provide comment on the 4850 Convent Avenue cluster.

6:11

This is a full co-op renovation.

6:14

Um next slide, please.

6:19

So this cluster contains four buildings, uh, 4535 West 125th Street, 48 and 50 Convent Avenue, and 1214 Old Broadway, all in the Manhattanville neighborhood.

6:29

The project's sponsor, uh developer Novus Living LLC, from whom we have representatives Asher Toparovsky and Steven Reinrich.

6:36

Um we have secured funding through the through the Lender Enterprise Community Partners who has worked with the city before, both on ANCP projects and otherwise.

6:45

Through this project, we it will result in 77 affordable residential units, all of whom will be will be receiving gut rehabs.

6:52

The makeup of those 77.

6:54

44 of them will be made up of existing households who currently reside in these buildings.

6:58

31 will be first time outside homeowners purchasing vacant units.

7:02

This will be through uh HP's Housing Connect, as all of our uh city produced units are, and two will be for supers units.

7:09

Uh one superunit will cover um the West 125th and Old Broadway sites, the other super will cover 48 and 50 convent.

7:16

Uh the sales price for existing residents, uh existing residents can buy for either 2,500 if they're above a certain level of affordability of income.

7:24

They're below that, there's a purchase savings plan through which they can buy for 250 dollars.

7:29

Uh for outside residents, we've set um prices that they are so that they make up no more than 30% of annual household income for households making 80% AMI.

7:39

Uh that initial monthly maintenance fee.

7:41

Um, this also ensures that the building can operate with um with a little bit of cushion and can survive uh any unforeseen circumstances.

7:51

So it's set to cover 110% of project expenses.

7:54

Uh we are hoping to be able to close in October of 2026 at the earliest.

7:58

And you can see below the unit size makeup.

8:01

Uh, next slide, please.

Discussion Breakdown — Share of Meeting

Affordable Housing█████████████████████████████████████████████78%

Public Engagement██████10%

Procedural███6%

Historic Preservation███6%

Summary of Proceedings

Subcommittee on Landmarks, Public Sitings, Resiliency and Dispositions Meeting - September 8, 2026

On Tuesday, September 8, 2026, at 11:00 AM, the New York City Council Subcommittee on Landmarks, Public Sitings, Resiliency and Dispositions, chaired by Councilmember Christopher Marte, held a hybrid hearing at 250 Broadway, 8th Floor, Hearing Room 3. Present were Councilmembers Marte, Alexa Avilés, Oswald J. Feliz, and Shanel Thomas-Henry; Councilmembers Sandy Nurse and Chi A. Ossé were absent; Kamillah Hanks was medically excused. The subcommittee considered two pre-considered land use applications (T2026-2497 and T2026-2498) related to the 48-50 Convent Avenue cluster (ANCP) project in Manhattan Community District 9, Council District 7, represented by the Majority Leader's district.

Discussion Items

Project Presentation: Emily Adler and Asher Toparovsky (representing the developer Novus Living LLC) and Daniel Tomkins (HPD) presented the proposal for the 48-50 Convent Avenue cluster, which includes four buildings at 48 Convent Avenue, 50 Convent Avenue, 453-455 West 125th Street, and 12-14 Old Broadway. The project involves a total gut rehabilitation of 77 affordable homeownership units through the Affordable Neighborhood Cooperative Program (ANCP). Of these, 44 units are for existing tenants (insiders) who will become homeowners, 31 units will be sold to first-time outside buyers via the NYC Housing Connect lottery, and 2 units are for live-in superintendents.
Financial Details: The project relies on approximately $800,000 per unit in city capital (no debt, 40-year no-interest), a 40-year Article 11 tax exemption, acquisition subsidies ($1 per building/land), and state grants (Affordable Housing Corporation and electrification READY grant). Existing residents can purchase units for $2,500 (or $250 through a purchase savings plan if below income threshold). Outside buyers at 80% AMI would pay no more than 30% of income on housing, with monthly maintenance fees estimated at $1,191 per unit. A resale (flip tax) schedule balances equity building and permanent affordability: insiders start with a 90-95% flip tax decreasing to 10% over time; new purchasers face a 10% flip tax in perpetuity.
Relocation Plan: Tenants will be temporarily relocated by the sponsor, Novus Living, during the 18-24 month construction period. Relocation units will be found within the neighborhood where possible, and tenants continue paying their current rent; the project budget covers the difference. All insiders have a right to return or can receive a permanent voucher if they choose not to return. Right-sizing options are available pending approval.
Readiness Training: The Urban Homesteading Assistance Board (UHAB) administers comprehensive co-op readiness training covering bylaws, board operations, budgeting, elections, and property management. At least 80% of insider tenants must attend eight training sessions and remain current on rent to qualify for homeownership; otherwise, the building would convert to rent-stabilized rentals.
Councilmember Questions: Councilmember Marte inquired about relocation logistics, and Councilmember Thomas Henry asked about readiness training, marketing of vacant units (via Housing Connect lottery), per-unit costs ($800,000), and resale restrictions. Councilmember Avilés sought clarification on relocation scope (no out-of-state unless family), right to return, right-sizing, and the proportion of existing residents expected to need rental vouchers (likely a large majority due to low incomes).

Public Comments & Testimony

No members of the public testified either in person or remotely.

Key Outcomes

The subcommittee held a public hearing on the two pre-considered items (T2026-2497 and T2026-2498).
Both items were laid over by the subcommittee (no vote taken), meaning they will be considered at a future meeting.

Meeting Transcript

Okay. We get them ready to begin. Will the Zoom host please start the webinar? Good morning, good morning. Welcome to the New York City Council hearing on the subcommittee on landmarks, public sightings, resiliency, and dispositions. At this time, please silence all electronics and approach the dais. Thank you for cooperation, Chair. You may begin. Good. Good morning. Welcome to the meeting of the subcommittee on landmarks, public sighting, resiliency and dispositions. I'm Councilmember Christopher Marte. I'm the chair of the subcommittee. I'm joined today by my colleague, Councilmember Thomas Henry. Before we begin today's agenda, I would remind everyone that this meeting is being held in a hybrid format. For members of the public who wish to testify remotely, we ask that you first register online and you may do so now by visiting www.council.nyc.gov slash land use to sign up and then sign into the Zoom and remain signed in until you have a testified. For anyone with us today in person and wishing to testify, if you have not already done so, please see one of the sergeant of arms to fill out a speaker card, and we will call your name at the appropriate time.gov, include the LU number and or the project name in the subject line of your email. Video and audio testimony would not be accepted. As such, member of the public shall remain silent unless and until call to testify. Approval pursuant to Section 691 of the General Municipal Law and approval of a 40-year Article 11 tax exemption pursuant to Section 577 of the private housing finance law. These actions will facilitate the preservation of four buildings, including 77 home ownership units in majority leader of Bray Yu's district in Manhattan. Appearing today on this proposal are Emily Adler and Asher Toborowski. Good. All right, thanks. Those wishing to testify remotely must register online by visiting the council website at council.nyc.gov slash land use. Panelists, please ensure that the microphone is on. You may approach uh the table and council. Would you please administer the affirmation? Would you please raise your right hand and state your name for the record? Make sure the mics are on. State your name again. Emily Adler. Asher Tavarowski. And do you affirm to tell the truth the whole truth and nothing but the truth in your testimony before the subcommittee and an answer to all council member questions? I do. I do. Thank you, applicants. You might you can begin. Okay. So we are here today to talk about the to introduce and provide comment on the 4850 Convent Avenue cluster. This is a full co-op renovation. Um next slide, please. So this cluster contains four buildings, uh, 4535 West 125th Street, 48 and 50 Convent Avenue, and 1214 Old Broadway, all in the Manhattanville neighborhood. The project's sponsor, uh developer Novus Living LLC, from whom we have representatives Asher Toparovsky and Steven Reinrich. Um we have secured funding through the through the Lender Enterprise Community Partners who has worked with the city before, both on ANCP projects and otherwise. Through this project, we it will result in 77 affordable residential units, all of whom will be will be receiving gut rehabs. The makeup of those 77. 44 of them will be made up of existing households who currently reside in these buildings. 31 will be first time outside homeowners purchasing vacant units. This will be through uh HP's Housing Connect, as all of our uh city produced units are, and two will be for supers units.

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