Dossier
Annie Feng
Coverage of Annie Feng in the Nexus archive.
- The $1.5M Holdout: Kips Bay Fight Pits Tenant Rights Against NYC Housing Development
Michael Heletz, founder of Excel Development Group, plans to demolish four buildings in Kips Bay for a tower of up to 160 apartments and retail space. The project is stalled because six rent-regulated tenants have not agreed to leave despite lucrative offers. A sixth tenant, Annie Feng, is holding out using her rights under rent stabilization rules, which creates conflict between individual tenant protections and broader affordable housing goals.