New York, NY —

The city has brokered a deal to keep hundreds of East Harlem apartments affordable.

The 229-unit Lexington Court had fallen into disrepair, and rather than fix it, the owner put it up for sale. With the help of $5 million in city subsidies and tax exempt bonds, Seattle-based developer Pacific Housing was able to purchase the buildings for $52 million.

In the last few years, hundreds of landlords exited affordable housing programs and sold their buildings to the highest bidder. But the market isn't booming now, so the city stepped in.

City Councilwoman Melissa Mark Viverito, who advocates for the tenants, credits a new approach by the Bloomberg administration.

“There is a more aggressive stance on the part of the city that I don't think was there before. I'm not sure if this kind of scenario would have played out three years ago that you would have had the same result,” Viverito says.

Earlier this year, the city said it would concentrate more on preserving cheap apartments already on the market as opposed to building new construction.