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BK RE Leaders Launch Platform to Build 10K Units in Five Years
Ofer Cohen, Tucker Reed, and Vivian Liao have launched Ailanthus, a housing creation platform dedicated to building 10,000 new units in New York City over the next five years. With a track record in Brooklyn projects like 1057 Atlantic Avenue and 737 Fourth Avenue, Ailanthus plans to commit a portion of profits to local nonprofits through Brooklyn Org.
The platform seeks to capitalize on recent NYC housing measures, which include tax breaks and policy reforms. Ofer Cohen emphasized the need for a more proactive approach, stating, “Ailanthus will help right size the risk profile of entitlement efforts from an investment perspective and ultimately, create significantly more housing by unlocking projects at the pre-development phase.”
“Affordable housing cannot exist without investing in the community resources that strong, healthy neighborhoods need and I am so pleased that Ailanthus will be making those investments with Brooklyn Org’s community-based charitable giving platform,” said Dr. Jocelynne Rainey, president and CEO of Brooklyn Org.
- ◦Development
