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New York & Tri-State  + Uptown/Bronx  + Senior Housing  |  June 6, 2022
Paul Bubny
By: Paul Bubny

Fairstead Launches Housing Lottery for Renovated Park 79 

Fairstead, the NYC Department of Housing Preservation & Development (HPD), and Project FIND have launched Park 79’s housing lottery on the city’s NYC Housing Connect website. Through HPD’s Senior Affordable Rental Apartments (SARA) program, the 100% affordable housing development will provide 77 residences to seniors earning at or below 50% area median income, including 24 homes for formerly homeless individuals. 

Formerly a single-room occupancy property that the previous owner used illegally as a hotel, the newly renovated development at 117 W. 79th St. includes 77 studio units, indoor and outdoor common areas for residents. It also includes space for Fairstead’s neighborhood nonprofit partner, Project FIND, which will provide on-site services with two social workers. All the apartments are electric-powered. 

“Park 79 aligns with Fairstead’s core philosophy of providing affordable housing in high opportunity areas and providing residents with support services to enhance their lives,” said Brett Meringoff, managing partner, development. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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