The Reel

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A blog for breaking sales and neighborhood real estate news.

By, Edward Gevinski, Massey Knakal Realty Services

As Mayor Bill de Blasio has settled into office, his plan to increase the volume of affordable housing in New York City is gaining more and more traction. It was announced recently that a major portion of Brooklyn’s East New York neighborhood will be rezoned to promote new housing projects. The details of the rezoning are unclear at this point, however, the Mayor plans to develop 200,000 affordable housing units within the next ten years.

According to the city planning report, the bulk of the East New York rezoning will occur within a 25-block span of Atlantic Avenue between Pennsylvania Avenue to the east and Euclid Avenue to the west. This area is particularly desirable for new developments due to its accessibility to public transportation.

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Neighborhoods: East New York