Real Estate Weekly
FIRMS HELPING TEACHERS WITH HOUSING CRUNCH
By Elaine Misonzhnik
It might be a sincere wish to help New
York City with its public school crisis,
Roseland is one of the three real estate
companies chosen by the New
Among the problems the board had to resolve before offering these people work, however, was the high cost of housing. New York is notorious for its exorbitant rents and anyone with a starting salary of $39,000 a year would be hard-pressed to find a decent apartment within city limits. So the board hired Goodstein Realty to find real estate developments close enough, good enough, and affordable enough to house new teachers.
Roseland’s particular development, called Riverbend at Port Imperial, is located across the river in Weehawken, N.J. With the asking rents of $1,600 for one-bedrooms and $2,000 for two-bedrooms, it is priced at about market rate, but Roseland’s package offers a few perks the teachers wouldn’t be able to find with an independent landlord.
“Part of our program includes
no security deposit, no broker fee, tenants
In addition, the company offers a Roselink Internet package, which provides instant Internet connection and basic cable.
There is a catch, however – TeachNY
requires the teachers to find an apartment within a limited space of
time (they usually have to settle down before they start teaching).
And since many of them are new in the country and eager to have a place
of their own, they won’t bargain shop as much
Plus, those of the teachers who have positioned in outer-borough schools won’t find the commute so easy – they would have to take at least two bus rides and a ferry ride to get to their place of work.
So far, some 15 teachers have signed leases at the Port Imperial, with others “still coming in and trying to make a decision.” But Burkey is confident they’ll come around. “We are going to continue to see a flow of teachers into our communities over the next couple of months,” she said.
The agreement with the Board of Education
is not the first time Roseland
“This program is really a tool for human resources to attract new employees to this area. We only offer it to those companies that have significant relocations and housing needs and we use it all over New Jersey.”
The other two firms that have been
chosen for TeachNY are Silverstein Properties with its West 42nd Street
project and a LeFrak high-rise in