Lappin Announces JV with Greystone to Rehab Affordable Housing

Greystone Capital Advisors’ Drew Fletcher and Lappin Associates’ Michael Lappin

Two firms are offering New York City a solution to a slew of affordable housing issues.

To make it work, Greystone and Lappin Associates need a property-tax break for rent-regulated housing.

Their plan would address two controversial elements of the rent-stabilization law passed last year: its severe limits on regulated rent increases to pay for improvements, and its elimination of means-testing, which lets even the wealthiest New Yorkers lease rent-stabilized units.