Jennifer Lee of the NY Times is reporting that 1520 Sedgwick Avenue, where DJ Kool Herc spun some of the first rap records ever, is going to be sold after all. There had been major resistance and lawsuits to stop an investment group led by Mark Karasick from selling the historic building. The building is currently part of the Mitchell-Lama moderate housing program. By selling the building, the owners are in effect 'buying out' of the program. Translation: these apartments are going market rate sooner rather than later.
While, the BoogieDowner certainly acknowledges the owners' right to buy and sell what it owns, we do have to ask about what is going to happen to the people currently renting there. Are their leases not renewed when they end? How much will rent jump? Will the new owner try to convert the building to condos or co-ops? These are all questions that need to be asked.
And one last question: will there be some sort of memorial or landmark to indicate the fact that one of the few original American art forms started at 1520 Sedgwick Avenue?
If any BoogieDowner readers live in 1520 Sedgwick, please chime in and let us know what is going to happen to your rent and the future of your lease, etc.
BoogieDowner thinks this is a little sad. We love the rap s**t.
Court Rules Sale of Bronx ‘Hip-Hop’ Building Can Proceed [ NY Times -City Room, Jennifer Lee]