$2M Rehab for 81 Madison St.

The 20 apartments at 81 Madison St., in Manhattan’s Chinatown neighborhood got a $2.25 million upgrade, thanks to New York City’s Green Housing Preservation Program

“Like so many buildings in Chinatown, 81 Madison was ripe to be purchased by a for-profit developer and converted into market rent. Instead of just another luxury rental, we have created, and now preserved, an oasis of affordability for our community, said Christopher Kui, executive director for building owner Asian Americans for Equality (AAFE).

The apartments at the 117-year-old tenement building will remain affordable for residents for at least the next 40 years. The Green Housing Preservation Program, created with input from Enterprise Community Partners, provides low- and no-interest loans to finance energy efficiency and water conservation improvements and moderate rehabilitation.

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