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<p>Opened in 1967, Esplanade Gardens’ co-op apartments were seen as a way for Black families to acquire intergenerational wealth and gnaw away at <a href="https://www.americanprogress.org/article/systemic-inequality-displacement-exclusion-segregation/" target="_blank">centuries-long inequality</a> in housing.Then it started falling apart.</p>
Esplanade Gardens was trumpeted as a way to build wealth for middle-class Black New Yorkers. But its crumbling infrastructure shows how the government gave up on affordable housing.
Eight investment sales were recorded in New York City between $10 million and $30 million last week, fetching a total of $127 million.
Investment sales totaled $173 million in the first week of October, led by a pair of struggling retail properties scooped up by the secretive London-based billionaires.