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<p> Pursuant to Section 695(2)(b) of the General Municipal Law and Section 1802(6)(j) of the Charter, notice is hereby given that the Department of Housing Preservation and Development (&quot;HPD&quot;) of the City of New York (&quot;City&quot;) has proposed the sale of the following City-owned property (collectively, &quot;Disposition Area&quot;) in the Borough of Manhattan:</p> <p> &nbsp;</p> <p> <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Address</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Block/Lot</u></p> <p> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;135 Delancey Street &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 346/150 (formerly p/o Lot 40)</p> <p> &nbsp;</p> <p> &nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p> Under the proposed project, the City will sell the Disposition Area to Site 3 DSA Owner LLC (&quot;Sponsor&quot;) for the negotiated price of $ $68,000,000. The negotiated price will be payable by $13,600,000 in cash and the delivery of a purchase money mortgage in the amount of $54,400,000, payable in several yearly installments and having a maturity date no later than four years after the date of the conveyance by the City of the Disposition Area to the Sponsor. The Sponsor will also deliver an enforcement note and mortgage for the remainder of the appraised value (&ldquo;Land Debt&rdquo;).&nbsp; The Sponsor will then construct one 13-story building containing a total of approximately market-rate 83 homeownership dwelling units, and approximately 53,943 square feet of commercial retail space and approximately 145,714 square feet of commercial office space on the Disposition Area, and will develop approximately 7,763 square feet of the Disposition Area as open space.</p> <p> &nbsp;</p> <p> The Land Debt will be repayable out of resale or refinancing profits until the later of (a) completion of construction or (b) payment in full of the Disposition Price and satisfaction of the Purchase Money Mortgage. The remaining balance, if any, may be forgiven at such time.</p> <p> &nbsp;</p> <p> The appraisal and the proposed Land Disposition Agreement and Project Summary are available for public examination at the office of HPD, 100 Gold Street, Room 5-I, New York, New York on business days during business hours.</p> <p> &nbsp;</p> <p> PLEASE TAKE NOTICE that a public hearing will be held on January 17, 2018 at 1 Centre Street, Manhattan, Mezzanine at 10:00 a.m., or as soon thereafter as the matter may be reached on the calendar, at which time and place those wishing to be heard will be given an opportunity to be heard concerning the proposed sale of the Disposition Area pursuant to Section 695(2)(b) of the General Municipal Law and Section 1802(6)(j) of the Charter.</p> <p> &nbsp;</p> <p> Individuals requesting sign language interpreters should contact the Mayor&#39;s Office Of Contract Services, Public Hearings Unit, 253 Broadway, Room 915, New York, New York 10007, (212) 788-7490, no later than five (5) business days prior to the public hearing.&nbsp; TDD users should call Verizon relay services.</p>