Asian Americans for Equality was included in a recent survey of the “12 Best Landlords in Manhattan.”
The report by the Brick Underground website used data from the past four years collected by Rentlogic, which grades buildings, “based on the occurrence of serious maintenance issues.” The list of best property managers focuses on the largest landlords with the most “A grade” ratings.
“Everyone else on this list is unapologetically in the landlord business to make money,” noted Brick Underground. But referring to AAFE, the website said, “This entry goes to show that landlords don’t have to be raking it in to keep buildings nice.”
AAFE has a lengthy track record of developing and preserving low- and middle-income housing in Chinatown, on the Lower East Side, as well as in Queens and Brooklyn.
AAFE’s executive director, Christopher Kui, said, “Our value is that we want to make sure low-income residents are getting the kinds of services that they get from any ordinary landlord.” As opposed to speculators who, “overpay for the property and then underwrite to the point that they assume that they will be able to evict the tenant and empty the building and bring in higher income for higher rent,” Kui told Brick Underground, “AAFE buildings are properly underwritten, with enough money allocated for both short-term maintenance and long-term improvements.”
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