Tag Archives: Urban American

Real Estate

One of the largest operators of affordable multi-family housing in Upper Manhattan and the boroughs is suing the city’s Department of Housing Preservation and Development for at least $4 million for lost income tied to deferred rent increases in subsidized housing vouchers at three apartment complexes in East Harlem.

New Jersey-based Urban American Management, through its affiliate Putnam Holding, claims that the city agency breached a contract by delaying approval of rent increases for a special class of Section 8 subsidized housing vouchers in the three complexes.

In addition, the petition filed in New York State Supreme Court Monday claims HPD bowed to pressure from the U.S. Department of Housing and Urban Development and revoked approved rent increases that were between 3 and 23 percent to the apartments with tenants holding enhanced Section 8 vouchers at the three complexes.

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