The city's Employees Retirement System and the New York State and Local Retirement System have invested more than $100 million in a private real estate group that purchased affordable housing complexes, including 3333 Broadway, the mammoth former Mitchell Lama building sitting on the west side of Broadway above Manhattanville. Some expect the new owners to drive up rents to justify the purchase price.

From TRE, this quote kinda sums it up: "A lot of people in these buildings are state and city employees and in the future they're going to depend on these pension funds to keep them through old age," said [Urban Homesteading Association Board organizer Dan] DeSloover. "In these apartments there will be pressure to drive them out from the same group that they rely on now."

3333 Broadway photo by haxonthego